Three key features of U.S. agriculture highlight the importance of family farms.
First, small family farms (those with less than $250,000 in annual sales) make up 88%% of all U.S. farms.
Second, large-scale family farms — about 10% of all farms — account for a disproportionately large, 72% share of the value of production.
Third, farming is still an industry of family businesses. Nearly 98% of farms are family-owned, and they account for about 88% of production. Just over 2% of U.S farms are nonfamily farms, accounting for the remaining 12% of production.
This chart is an update of one found in the ERS report, Structure and Finances of U.S. Farms: Family Farm Report, 2010 Edition, EIB-66, July 2010.