The USDA Economic Research Service (ERS) 2024 edition of America’s Farms and Ranches at a Glance was recently published and offers facts and figures on farms of all sizes. The report used data from the Agricultural Resource Management Survey (ARMS), an annual survey conducted by USDA, National Agricultural Statistics Service (NASS) and USDA, Economic Research Service (ERS). The analysis in this report is based on a total sample of approximately 14,700 farms from the 2023 ARMS.
An overview by the authors noted that farms in the United States represent a diverse set of business operations and farm operators. This annual report, they add, describes the characteristics of U.S. farms and ranches with the most recent data from the Agricultural Resource Management Survey (ARMS), an annual survey conducted by USDA, National Agricultural Statistics Service (NASS) and USDA, Economic Research Service (ERS). Statistics for calendar year 2023 are presented using a farm classification developed by USDA, ERS to categorize farms into groups with some common characteristics (each farm’s annual gross cash farm income, the main occupation of the farm’s principal operator, and ownership (family versus nonfamily).
Here are the top 10 facts on farming as reported by USDA ERS:
- Most U.S. farms (86 percent) are small family farms. These farms operate on 41 percent of U.S. agricultural land and account for 17 percent of the total value of American production. Large-scale family farms accounted for 48 percent of the total value of production and 31 percent of agricultural land in 2023.
- In total, family farms accounted for about 96 percent of total farms and 83 percent of total production in 2023.
- Nonfamily farms accounted for the remaining 4 percent of farms. Among nonfamily farms, 16 percent had a GCFI of $1 million or more.
- Nonfamily farms vary widely in size, income, and ownership structure and include partnerships of unrelated persons, nonfamily corporations, and farms with a hired manager unrelated to the owners.
- Nonfamily farms’ share of value of production increased from 11 percent of the total value of production in 2022 to 17 percent in 2023. Production was concentrated in large-scale nonfamily farms, which accounted for 16 percent of nonfamily farms and 93 percent of all nonfamily farms’ production.
- Large-scale family farms accounted for the majority of the value of cash grains and soybeans (52 percent), cotton (71 percent), dairy (77 percent), and specialty crops (59 percent) production in 2023.
- Small family farms produced 45 percent of the value of hay and 46 percent of the total value of U.S. poultry and egg output in 2023. Most poultry and egg production is done under contracts, with a contractor paying a fee to a farmer who raises poultry to maturity or manages the egg-laying operation. Many of these farms are considered small because their GCFI includes only the fee received and not the value of the poultry or eggs produced.
- In 2023, 22 percent of the value of beef production occurred on small family farms, while 39 percent occurred on large-scale family farms. Small family farms often have cow/calf operations, while large-scale family farms are more likely to operate feedlots.
- In 2023, the value of production by nonfamily farms ranged from 8 percent for hay to 28 percent for specialty crop production.
- Compared with 2022, nonfamily farms comprised a larger share of the value of production, with their value of beef production increasing from 11 percent in 2022 to 26 percent in 2023.
The authors of the report, issued in December, 2024, “America’s Farms and Ranches at a Glance: 2024 Edition” were Katherine Lim, Jonathan McFadden, Noah Miller, and Katherine Lacy.
