Economic Information Bulletin No. (EIB-220) 30 pp
America's Diverse Family Farms: 2020 Edition
This report provides the latest statistics on U.S. farms, including production, financial performance, and farm household characteristics by farm size. Among the findings, 98 percent of U.S. farms are family farms and they accounted for 86 percent of farm production in 2019. Most (90 percent) farms are small (gross cash farm income less than $350,000) and account for 22 percent of production.
Errata: On December 11, 2020, the landing page for the report America's Diverse Family Farms: 2020 Edition was revised to correct the share of production attributed to family farms in 2019 cited in the abstract. Family farms accounted for 86 percent of farm production in 2019. The report itself is unaffected by this change.
See related webinar: Webinar – Friday, December 11, 2020 at 1:00 PM ET
Keywords: family farms, agricultural production, farm typology, small farms, midsize farms, large farms, farm household income, Agricultural Resource Management Survey (ARMS), principal farm operator, spouse, farm financial performance, operating profit margin (OPM), off-farm income, self-employment, farm ownership, Government payments, commodity specializations, farm succession, direct sales, women in agriculture, value of production, 2019
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