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Structure and Finances of U.S. Farms: 2005 Family Farm Report

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  • Hoppe, Robert A.
  • Banker, David E.

Abstract

Most farms in the United States—98 percent in 2003—are family farms. They are organized as proprietorships, partnerships, or family corporations. Even the largest farms tend to be family farms, although they are more likely to have more than one operator. Very large family farms and nonfamily farms account for a small share of farms but a large—and growing—share of farm sales. Small family farms account for most of the farms in the United States but produce a modest share of farm output. Median income for farm households is 10 percent greater than the median for all U.S. households, and small-farm households receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.

Suggested Citation

  • Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 59404, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersib:59404
    DOI: 10.22004/ag.econ.59404
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    References listed on IDEAS

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    Cited by:

    1. Peter Howley & Emma Dillon & Thia Hennessy, 2012. "The role of non-pecuniary benefits in the labour allocation decision of farmers," Working Papers 1202, Rural Economy and Development Programme,Teagasc.
    2. Harris, James Michael & Mishra, Ashok K. & Williams, Robert P., 2012. "The Impact Of Farm Succession Decisions On The Financial Performance Of The Farm," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124749, Agricultural and Applied Economics Association.
    3. Michael Stahlman & Laura McCann, 2012. "Technology characteristics, choice architecture, and farmer knowledge: the case of phytase," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 29(3), pages 371-379, September.
    4. Briggeman, Brian C. & Kenkel, Philip L., 2007. "Farm Credit Employees' Perceptions of Loan Business Relative to Different Types of Borrowers," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34895, Southern Agricultural Economics Association.
    5. Bruce Gardner & Barry Goodwin & Mary Ahearn, 2007. "Economic statistics and U.S. agricultural policy," Agricultural Economics, International Association of Agricultural Economists, vol. 37(s1), pages 237-248, December.
    6. Pope, Rulon D. & LaFrance, Jeffrey T. & Just, Richard E., 2011. "Agricultural arbitrage and risk preferences," Journal of Econometrics, Elsevier, vol. 162(1), pages 35-43, May.
    7. White, T. Kirk & Hoppe, Robert A., 2012. "Changing Farm Structure and the Distribution of Farm Payments and Federal Crop Insurance," Economic Information Bulletin 120309, United States Department of Agriculture, Economic Research Service.
    8. Jesse B. Tack & Rulon D. Pope & Jeffrey T. LaFrance & Ricardo H. Cavazos, 2015. "Modelling an aggregate agricultural panel with application to US farm input demands," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 42(3), pages 371-396.
    9. Beach, Robert H. & Jones, Alison Snow & Tooze, Janet A., 2008. "Tobacco Farmer Interest and Success in Income Diversification," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(1), pages 1-19, April.
    10. Jesse Tack & Rulon Pope & Jeffrey LaFrance & Ricardo Cavazos, 2012. "Flexible Specification and Robust Estimation of Input Demand Systems," Monash Economics Working Papers 48-12, Monash University, Department of Economics.
    11. Peter Howley & Trevor Donnellan & Kevin Hanrahan, 2009. "The 2003 CAP reform: Do decoupled payments affect agricultural production?," Working Papers 0901, Rural Economy and Development Programme,Teagasc.
    12. Gedikoglu, Haluk & McCann, Laura M.J., 2009. "Disadoption of Agricultural Practices by Livestock Farmers," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49404, Agricultural and Applied Economics Association.
    13. Hannah Lewis, 2009. "From Mexico to Iowa: New Immigrant Farmers' Pathways and Potentials," Community Development, Taylor & Francis Journals, vol. 40(2), pages 139-153, June.
    14. Eberle, Phillip & Wallace, Russ, 2008. "Recreational Leases as Means to Increase Landowner Income," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2008, pages 1-9.
    15. Forster, D. Lynn, 2006. "An Overview of U.S. Farm Real Estate Markets," Working Papers 28319, Ohio State University, Department of Agricultural, Environmental and Development Economics.

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    Keywords

    Farm Management;

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