Farm Economics

ACH22-1/February 2024

Highlights Value of production and income were up, while number of farms went down

United States Department of Agriculture

National Agricultural Statistics Service www.nass.usda.gov/AgCensus

Value of Production

In 2022, U.S. farms and ranches 

produced $543.1 billion in agricultural 

products, up from $388.5 billion in 2017. 

Crop and livestock commodities each 

accounted for approximately half of the 

total, with crops accounting for 52% 

of the value. In 2022, the value of crop 

sales exceeded livestock sales.

The total number of farms declined 

between 2017 and 2022, from 2.04 

million to 1.90 million. 

Sales Class

% of

farms

% of

sales

$5,000,000 + 1 42

$1,000,000 - $4,999,999 5 36

$250,000 - $999,999 8 15

$50,000 - $249,999 12 5

< $50,000 74 2

The largest farms (sales of $5 million or 

more) accounted for fewer than 1% of 

all farms but 42% of all sales. Farms with 

sales of $50,000 or less accounted for 

74% of farms and 2% of sales.

The overall value of agricultural production and income increased between 

2017 and 2022. Increases remained concentrated by farm size, location, and 

industry. The number of large farms increased in 2022, according to the 2022 

Census of Agriculture, while the number of mid-size and small farms declined. 

The largest operations and a small number of states accounted for the 

majority of agricultural production and sales. Five commodities accounted for 

two thirds of the value of agricultural production.

The total value of 

crops in 2022 was 

$281 billion, up 

45% from 2017. For 

livestock, the value 

was $262 billion,

up 35%.

The number of small and mid-sized farms declined between 2017 and 2022. Large (sales $1-5 

million) and very large farms (sales of $5 million or more) increased in number. The 105,384 farms 

in the top two categories (sales of $1 million or more) are fewer than 6% of U.S. farms; they sold 

more than three fourths of all agricultural products.

Value of Production, 2002-2022 ($ billions)

Livestock

Crops

47%

52%

201

2002 2007

48%

52%

297

2012

54%

46%

395

2017

50%

50%

389

2022

52%

48%

543 

Number of Farms, by Size of Farm, 2017 and 2022 (thousands)

Sales Class

2017 2022

Less than

$2,500

792

679

$2,500to

$9,999

393

358

$10,000to

$49,999

372 366

$50,000to

$249,999

250 239

$250,000to

$999,999

158 153

$1,000,000to

$4,999,999

68 89

$5,000,000

or more

9 16

1.9 million

farms

$543.1 billion 

in agricultural products 

880.1 million 

acres

2022
 Source: USDA NASS, 2022 Census of Agriculture.

About the Census

The Census of Agriculture, conducted 

once every five years, is a complete 

count of U.S. farms and ranches and the 

people who operate them. Results from 

the 2022 Census, as well as previous 

censuses, are available online at 

national, state, and county levels. 

See the searchable database Quick 

Stats, downloadable PDF reports, maps, 

and a variety of topic-specific products.

www.nass.usda.gov/AgCensus

U.S. Production by State

The top 10 states accounted for 55% of sales 

in 2022. As in 2017, California was the largest 

provider of agricultural products, with sales 

of $59 billion, 11% of the U.S. total. 

The top nine U.S. counties are in California, 

and the top county, Fresno, had larger 

agriculture sales than 23 individual states.

Top States ($ bil)

California 59.0

Iowa 43.9

Texas 32.2

Nebraska 29.4

Minnesota 28.5

Illinois 26.4

Kansas 24.0

North Carolina 18.7

Indiana 18.0

Wisconsin 16.7

Agriculture Sales by State, 2022

< 1.0

1.0 - 2.4

2.5 - 4.9

5.0 - 9.9

10.0 +

U.S. = $543.1 bil

Income and Expenses

Farm income includes not just sales but also 

government payments and earnings from 

farm-related activities. With these items 

included, total U.S. farm income in 2022 was 

$576 billion. With farm production expenses 

of $424 billion, U.S. farms had net cash 

income of $152 billion. 

At the farm level, average income in 2022 

was $79,790, up 85% or almost double

from 2017.

Production Expenses ($ bil)

Feed 88.4

Livestock purchased 51.4

Hired labor 41.8

Fertilizer 36.1

Cash rents 27.3

Supplies and repairs 25.9

Seeds 25.6

Chemicals 23.6

Fuels 18.4

Interest 13.4

Other 72.2

All U.S. Farms

($ bil)

% change

since 2017

Income

Value of ag products sold 543.1 +40

Government payments 10.4 +17

Farm-related income 22.3 +32

Production expenses 424.1 +30

Net income 151.6 +72

(as percent of U.S.)

Top Commodities

Cattle and calves was the top ranked 

commodity, with $89.4 billion in sales. Texas 

was the top state in cattle and calves sales, 

accounting for 17% of the U.S. total. 

The top five commodities accounted for 

$363 billion in sales, 67% of U.S. total 

agriculture sales.

Farms with Internet Access, by County, 2022

In 2022, 79% of U.S. 

farms had internet 

access, up from 75% 

in 2017. Rates are 

higher in western and 

northeastern states.

Top Commodities, 2022

($ billion) Top State % of U.S.

Cattle and calves 89.4 Texas 17

Corn 88.5 Iowa 18

Poultry and eggs 76.5 North Carolina 12

Soybeans 55.4 Illinois 15

Milk 52.8 California 18

< 60

60 - 69

70 - 79

80 - 84

85 - 89

90 or more

U.S. = 79%

(as percent of total farms)

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