Farming is still overwhelmingly a family operation according to a new report, “America’s Diverse Family Farms 2016,” released this week by the USDA Economic Research Service.
Ninety-nine percent of all U.S. farms are family owned, accounting for 89 percent of all farm production. The report divided all farms into one of four categories: small family farms, mid-sized family farms, large family farms and non-family farms. The categories are calculated according to gross farm cash income.
Ninety percent of U.S. farms are in the small family farm category, operating on nearly half of the farmland. Though the farm sizes varied, median income and wealth for each type of farm household remain above the median for all U.S. households.
The complete report can be found here.