Family Farms Represented 96% of All Farms and 83% of Total Production in 2023

The USDA-ERS 2024 edition of America’s Farms and Ranches at a Glance reveals the ongoing significance of family farms in American agriculture. In 2023, family farms represented 96% of all farms and were responsible for 83% of total production.

Of these family farms, 86% are small farms with gross cash farm income (GCFI) of less than $350,000. These farms operated 41% of the land and were responsible for 17% of the total production value. Mid-size family farms have a GCFI between $350,000 and $999,9999. They operated 18% of the land and were responsible for 18% of the total production value. Large family farms have a GCFI of at least $1 million. They operated 31% of agricultural land in 2023 and accounted for 48% of the production volume.

Large family farms produce the majority of many commodities, including soybeans (52%), cotton (71%), dairy (77%) and specialty crops (59%).

When it comes to insuring crops, 66% of farms producing row crops (cotton, corn, soybeans, wheat peanuts, rice or sorghum) purchased Federal crop insurance. This was followed by 17% of specialty crop growers who produce fruits, vegetables and nursery crops and 12% of farms producing livestock.