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by rmason
4536 days ago
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The number of farmers is essentially meaningless because of the way the USDA counts who is a farmer. Anyone with sales of over $1000 per year is considered a farmer and that is how they get the 2 million farmers number. http://www.ers.usda.gov/topics/farm-economy/farm-household-w... What is more meaningful is to look at farms with sales of $250,000 per year or more. They're 9% of farms but account for 80% of sales. There are roughly 125,000 farms in this group. |
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There are two (at least) different definitions of "farm." One is large commercial business often utilizing a thousand acres or more. I suppose these are FarmLogs' focus?
The other is family-operated (except for seasonal help perhaps), typically less than 250 acres. I live in Lancaster County, PA where farms average 78 acres. The farm I live on (and operate) is ~50 acres and has crop & animal revenue far less than $100k. But it's still a viable farm.
Average revenue per farm in Lancaster County is $183k. That's another almost meaningless number without knowing the distribution. I'd guess 10% of the farms I know are much more than $250k.
http://www.lancasterfarmlandtrust.org/heritage/farming-lanca...