Farm Economics

ACH17-1/April 2019

Highlights Value of production, number of farms, and income down slightly

United States Department of Agriculture

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

Value of Production

In 2017, U.S. farms and ranches 

produced $388.5 billion in agricultural 

products, down from $394.6 billion in 

2012. Crop and livestock commodities 

each account for half of the total. In 

2012, only the second time in census 

history, the value of crop sales exceeded 

livestock sales; 2017 is a return to 

longer-term trends.

The total number of farms declined 

between 2012 and 2017, from 2.11 to 

2.04 million. All categories of mid-sized 

farms declined. 

The largest farms (sales of $5 million 

or more) accounted for fewer than 

1 percent of all farms but 35 percent 

of all sales. Small farms (sales of $50,000 

or less) accounted for 76 percent of the 

farms and 3 percent of the sales.

Sales Class

% of

farms

% of

sales

$5,000,000 + 1 35

$1,000,000 - $4,999,999 3 34

$250,000 - $999,999 8 21

$50,000 - $249,999 12 8

< $50,000 76 3

The value of agricultural production declined slightly between 2012 and 2017 

but remains concentrated by farm size, location, and industry. The number of 

large and small farms increased, according to the 2017 Census of Agriculture, 

as the number of mid-size farms declined. The largest operations and a 

small number of the largest states accounted for the majority of agricultural 

production and sales. Five commodities accounted for two thirds of value.

The total value of 

crops in 2017 was 

$194 billion, down 

9 percent from 

2012. For livestock, 

the value was 

$195 billion, up 

7 percent.

The number of mid-sized farms declined between 2012 and 2017. Only very small farms (annual 

sales of $2,500 or less) and very large farms (sales of $5 million or more) increased in number. The 

76,865 farms in the top two categories (sales of $1 million or more) are fewer than 4 percent of U.S. 

farms; they sold more than two thirds of all agricultural production.

Value of Production, 1997-2017 ($ billions)

Livestock

Crops

50%

50%

201

1997

47%

53%

201

2002

48%

52%

297

2007

54%

46%

395

2012

50%

50%

389

2017

Number of Farms, by Size of Farm, 2012 and 2017 (thousands)

Sales Class

2012 2017

8 9

$5,000,000

or more

71 68

$1,000,000to

$4,999,999

170 158

$250,000to

$999,999

398 372

$10,000to

$49,999

406 393

$2,500to

$9,999

788 792

Less than

$2,500

268 250

$50,000to

$249,999

U.S. = 2,042

2 million

farms

$389 billion 

in agricultural products 

900 million 

acres
* Statistically significant difference from 2012. Source: USDA NASS, 2017 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 2017 Census, as well as previous 

censuses, are available online at 

national, state, and county levels. 

See the searchable database Quick 

Stats, the new and easy-to-use Census 

Data Query Tool, downloadable PDF 

reports, maps, and a variety of topicspecific products. 

www.nass.usda.gov/AgCensus

U.S. Production by State

The top ten states accounted for 

54 percent of sales in 2017. California 

remained the largest provider of 

agricultural products, with sales of 

$45.2 billion, 12 percent of the U.S. total. 

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

and the top county, Fresno, had larger 

agriculture sales than 25 states.

Top States ($ bil)

California 45.2

Iowa* 29.0

Texas 24.9

Nebraska 22.0

Kansas 18.8

Minnesota* 18.4

Illinois 17.0

North Carolina 12.9

Wisconsin 11.4

Indiana 11.1

Agriculture Sales by State

< 1.0

1.0 - 2.4

2.5 - 4.9

5.0 - 9.9

10.0 +

U.S. = $389 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 2017 was 

$414 billion. With farm production expenses 

of $326 billion, U.S. farms had net cash 

income of $88 billion. 

At the farm level, average income in 2017 

was $43,053, down 2 percent from 2012. 

Production Expenses ($ bil)

Feed* 62.6

Livestock purchased 44.9

Hired labor* 31.6

Fertilizer* 23.5

Cash rents 21.1

Seeds* 21.0

Supplies and repairs* 19.7

Chemicals* 17.6

Fuels* 13.5

Interest 12.4

Other 58.5

All U.S. Farms

($ bil)

% change

since 2012

Income

Value of ag products sold 388.5 -2

Government payments* 8.9 +11

Farm-related income 16.8 -9

Production expenses 326.4 -1

Net income 87.9 -5

(as percent of U.S.)

Top Commodities

Cattle and calves was the top ranked 

commodity, with $77.2 billion in sales. Texas 

was the top state in cattle and calves sales, 

accounting for 16 percent of the U.S. total. 

The top five commodities accounted for 

$255 billion in sales, 66 percent of U.S. total 

agriculture sales.

Farms with Internet Access, by County, 2017

In 2017, 75 percent 

of U.S. farms had 

internet access, up 

from 70 percent 

in 2012. Rates are 

higher in western and 

northern states.

Top Commodities, 2017

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

Cattle and calves 77.2 Texas 16

Corn* 51.2 Iowa 17

Poultry and eggs* 49.2 Georgia 11

Soybeans 40.3 Illinois 14

Milk 36.7 California 18

< 50

50 - 59

60 - 69

70 - 79

80 +

U.S. = 75

(as percent of total farms)

USDA is an equal opportunity provider, employer, and lender.