USDA Out With Report That Looks At Farms Ranches Nationwide
The USDA is out with its latest edition of the America’s Farms and Ranches at a Glance report. It’s intended to be a snapshot of what’s actually taking place on the farm nationwide.
“Farming is still overwhelmingly a family business, 98% of US farms are family owned and operated and they accounted for over 80% of total value production,” said ERS Research Economist Noah Miller. “Of these family farms, small family farms with largest group, accounting for 89% of all farms and operating 45% of all agricultural land. The share of farms with a low risk operating profit margin, OPM, varied by farm size in 2021. 54% of large family farms had low risk OPMs while on average only 18% of small-scale farms fell in this category.”
Miller added the study also indicates farm households in general where neither low income or low wealth compared to median income for all US households.
Click Here to see that entire USDA report.
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