New USDA report looks at family farms – Farm Futures
A new report from USDA’s Economic Research Service looks at family farms. The Family Farm Report, 2014 Edition, was released this week and shows some interesting conclusions:
The report shows that family farms accounted for 97% of U.S. farms in 2011. Small family farms alone – annual gross cash farm income below $350,000 – made up 90% of farms. they also operated 52% of the Nation’s farmland. Small farms accounted for a small share of production – 26% – although their share of production was higher for specific commodities. ERS notes that small farms accounted for 56% of poultry production.
The report shows that large-sized and mid-sized family farms made up only 8% of all U.S. farms in 2011, but accounted for 60% of the value of U.S. ag production. About 3% of farms were non-family farms production 15% of U.S. farm output. About 85% of nonfamily farm output was on farms with GCFI of $1 million or more. Most nonfamily farms – 78% – had GCFI below the $350,000 cutoff used to identify small farms.
These are the latest insights into farm ownership and a quick summary. You can check out the entire report for more information.
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