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| Hoppe, Robert A.; Korb, Penelope J.; O'Donoghue, Erik J.; Banker, David E.. |
| 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. |
| Tipo: Report |
Palavras-chave: Contracting; Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Million-dollar farms; Small farms; ERS; USDA; Agricultural and Food Policy; Farm Management. |
| Ano: 2007 |
URL: http://purl.umn.edu/59032 |
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| Hoppe, Robert A.; Korb, Penelope J.; Banker, David E.. |
| Million-dollar farms—those with annual sales of at least $1 million—accounted for about half of U.S. farm sales in 2002, up from a fourth in 1982 (with sales measured in constant 2002 dollars). By 2006, million-dollar farms, accounting for 2 percent of all U.S. farms, dominated U.S. production of high-value crops, milk, hogs, poultry, and beef. The shift to million-dollar farms is likely to continue because they tend to be more profitable than smaller farms, giving them a competitive advantage. Most million-dollar farms (84 percent) are family farms, that is, the farm operator and relatives of the operator own the business. The million-dollar farms organized as nonfamily corporations tend to have no more than 10 stockholders. |
| Tipo: Report |
Palavras-chave: Contracting; Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Million-dollar farms; Farm Management. |
| Ano: 2008 |
URL: http://purl.umn.edu/58623 |
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