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Structure and Finances of U.S. Farms: Family Farm Report, 2007 Edition

Author

Listed:
  • Hoppe, Robert A.
  • Korb, Penelope J.
  • O'Donoghue, Erik J.
  • Banker, David E.

Abstract

U.S. farms are diverse, ranging from small retirement and residential farms to enterprises with annual sales in the millions. Nevertheless, most U.S. farms—98 percent in 2004—are family farms. Even the largest farms tend to be family farms. Large-scale family farms and nonfamily farms account for 10 percent of U.S farms, but 75 percent of the value of production. In contrast, small family farms make up most of the U.S. farm count, produce a modest share of farm output, and receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.

Suggested Citation

  • Hoppe, Robert A. & Korb, Penelope J. & O'Donoghue, Erik J. & Banker, David E., 2007. "Structure and Finances of U.S. Farms: Family Farm Report, 2007 Edition," Economic Information Bulletin 59032, United States Department of Agriculture, Economic Research Service.
  • Handle: RePEc:ags:uersib:59032
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    File URL: http://purl.umn.edu/59032
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    Cited by:

    1. MacDonald, James M. & Key, Nigel D., 2012. "Market Power in Poultry Production Contracting? Evidence from a Farm Survey," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(04), November.
    2. Hand, Michael S. & Nickerson, Cynthia J., 2009. "The Role of Cost-Share Rates and Prices on the Size of Conservation Investments in EQIP," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49257, Agricultural and Applied Economics Association.
    3. Peterson, Hikaru Hanawa & Barkley, Andrew P. & Chacon-Cascante, Adriana & Kastens, Terry L., 2012. "The Motivation for Organic Grain Farming in the United States: Profits, Lifestyle, or the Environment?," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(02), May.
    4. David E. Ervin & Leland L. Glenna & Raymond A. Jussaume, 2011. "The Theory and Practice of Genetically Engineered Crops and Agricultural Sustainability," Sustainability, MDPI, Open Access Journal, vol. 3(6), pages 1-28, June.

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