Economic Information Bulletin No. (EIB-12) 50 pp

May 2006

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

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. Very large family farms account for a small share of farms but a large-and growing-share of farm sales. Small family farms account for most farms 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. Small-farm households also receive substantial off-farm income.

Keywords: Agricultural Resource Management Survey, family farms, farm businesses, farm financial performance, farm-operator household income, farm operators, farm structure, farm type, multiple-operator farms, multiple-generation farms, small farms, contracting

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Last updated: Monday, May 15, 2006

For more information, contact: Robert A. Hoppe and David Banker