According to the U.S. Department of Agriculture’s 2017 Ag Census, about 97 percent of the 2.1 million farms in the United States are considered family farms. And 88 percent of all U.S. farms have a gross cash farm income of less than $350,000 annually, putting them in the small-family-farm category. That means most farms in the United States are small family-owned businesses that rely on the availability of finance options to fund the large cost of producing the food, fiber and renewable energy our country and the world rely on every day.
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Bernt Nelson
Bernt Nelson is an economist with the American Farm Bureau Federation’s Market Intel. Visit www.fb.org/market-intel for more information.
