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Small Farmers Weathered 1980's Financial Stress Better than Large Farmers

Author

Listed:
  • Hanson, Gregory D.
  • Jinkins, John E.

Abstract

Large farms had a loan default rate 2.5 times greater than small farms in 1987-88 and an insolvency rate 3 times greater. That was so even though small farms averaged less than $40,000 in annual farm sales while large farms averaged about $200,000. The reason? Small farmers got most of their income from off-farm jobs which cushioned them when crops failed or when the price wasn't right.

Suggested Citation

  • Hanson, Gregory D. & Jinkins, John E., 1991. "Small Farmers Weathered 1980's Financial Stress Better than Large Farmers," Rural America/ Rural Development Perspectives, United States Department of Agriculture, Economic Research Service, vol. 7(01), January.
    • Handle: RePEc:ags:uersra:310929
    DOI: 10.22004/ag.econ.310929
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