Family-owned farms continue to make up the vast majority of farms in the United States and Texas, according to a U.S. Department of Agriculture report.
The report, America’s Farms and Ranches at a Glance, shows that nearly 97% of U.S. farms are owned by families. In Texas, family farms account for 96% of all farms.
“While it’s often thought that large ‘corporate’ farms are not family owned, less than 1% of all farms are non-family-owned corporations,” American Farm Bureau Federation economists wrote in a Market Intel report. “Families may choose to legally organize their businesses as corporations for tax purposes, and 6% of farms nationwide are corporations exclusively held by families, some of which are still small based on income or acreage.”
Small family farms make up the majority of farms nationwide. Under USDA definitions, any farm generating less than $350,000 in gross cash farm income is classified as small.
About 86% of the nation’s 1.9 million farms fall into that category. “Bandera County is home to so many small farms and ranches,” said Booker Young, president of the Bandera County Farm Bureau. “But regardless of size, big or small, we need them all, and it’s important to remember that big farms aren’t bad.”
The current farm economy, however, is challenging.
Many farm and ranch families rely on off-farm income to stay afloat, with about 77% of farm household income coming from sources other than farming.
“Farming at any size is cost-intensive, and rising input prices, global competition and razor-thin margins are putting extra pressure on farm and ranch families today,” Young said.
For more information about family farms and farm economics, the Market Intel report is available at fb.org/market-intel.
.png)
