According to the most recent edition of the USDA’s America’s Diverse Family Farms report, 98% of U.S. farms are family farms, and they account for 87% of farm production. USDA Researcher Chris Burns added small farms make up 89% of the total farm count, and operate half the farmland in the U.S. Another finding from the annual report, farm households in general are neither low-income nor low-wealth.
“About 59% of farm households receive an income that was at or above the median for all U.S. households in 2017.”
He also noted, one-third of all U.S. agricultural production occurs under contract.
“An agreement typically between a farmer and some intermediary, like a processor, that governs the quantities, the price and the outlet for a particular commodity.”
Burns added various commodities, such as tobacco and hogs, have seen a rise in being under contract over the last two decades.
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