Author : Robert Hoppe
Publisher :
ISBN 13 : 9781497487550
Total Pages : 40 pages
Book Rating : 4.4/5 (875 download)
Book Synopsis Updating the ERS Farm Typology by : Robert Hoppe
Download or read book Updating the ERS Farm Typology written by Robert Hoppe and published by . This book was released on 2014-04-02 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USDA's Economic Research Service (ERS) farm typology was originally developed to classify farms into relatively homogeneous groups based on their gross farm sales, the primary occupation of their operators, and whether the farms are family farms. Nearly 15 years have passed since ERS first released its farm typology; in this report, we update it to reflect commodity price inflation and the shift of production to larger farms. We also make a technical change, switching the measure of farm size from gross farm sales to gross cash farm income (GCFI), the total revenue received by a farm business in a given year. After the price adjustment, small farms are defined as those with GCFI less than $350,000, up from the original $250,000 cutoff. To adjust for the upward shift in production, two groups are added to the typology for farms with GCFI of $1 million or more, and a midsize group is added for farms with GCFI between $350,000 and $999,999.