IMPORTANT FARMING COMMUNITY FACTS:
Over 2.02 million farms in the US (2020 Census of Agriculture)
98% of U.S. farms are family-owned, whether they are operated as sole proprietorships, partnerships, or family corporations.
Agriculture contributes approximately $1.1 trillion to the U.S. economy annually, which is roughly 5.4% of GDP.
Farm exports are also crucial: U.S. agricultural exports in 2020 were worth over $145 billion.
The average size of a U.S. farm is about 444 acres. However, farm size varies significantly by state and region.
Net farm income was projected at $119 billion in 2021, the highest since 2013.
TYPES OF FARMS
Crops: The most common type of farms in the U.S. are crop farms, which include corn, soybeans, wheat, and specialty crops like fruits and vegetables.
Livestock: More than 80% of U.S. agricultural income comes from livestock, dairy, and poultry farming.
Diversified Farms: Around 40% of U.S. farms have diversified operations, mixing crop and livestock production.
The average age of U.S. farmers is around 58 years old, and about one-third of farmers are over the age of 65. This signals a growing need for younger generations to enter agriculture and help sustain the industry.
CHALLENGES FACING FARMERS
Access to Capital: Many small or local farmers struggle to obtain financing due to higher risks, fluctuating incomes and debt levels.
Climate Change: Changes in weather patterns and extreme events like droughts and floods directly affect crop yields and farming productivity.
Market Volatility: Farmers often face price instability for their goods, with factors like trade policies and consumer demand affecting prices.
THE NEED
However the need for small, local farms remains a vital part of the "American Way." With over 15,000 registered Farmer's Markets nationwide and with more and more families switching to healthier eating habits, buying local and organic; the need for the farming community continues to grow.
Over 2.02 million farms in the US (2020 Census of Agriculture)
98% of U.S. farms are family-owned, whether they are operated as sole proprietorships, partnerships, or family corporations.
Agriculture contributes approximately $1.1 trillion to the U.S. economy annually, which is roughly 5.4% of GDP.
Farm exports are also crucial: U.S. agricultural exports in 2020 were worth over $145 billion.
The average size of a U.S. farm is about 444 acres. However, farm size varies significantly by state and region.
Net farm income was projected at $119 billion in 2021, the highest since 2013.
TYPES OF FARMS
Crops: The most common type of farms in the U.S. are crop farms, which include corn, soybeans, wheat, and specialty crops like fruits and vegetables.
Livestock: More than 80% of U.S. agricultural income comes from livestock, dairy, and poultry farming.
Diversified Farms: Around 40% of U.S. farms have diversified operations, mixing crop and livestock production.
The average age of U.S. farmers is around 58 years old, and about one-third of farmers are over the age of 65. This signals a growing need for younger generations to enter agriculture and help sustain the industry.
CHALLENGES FACING FARMERS
Access to Capital: Many small or local farmers struggle to obtain financing due to higher risks, fluctuating incomes and debt levels.
Climate Change: Changes in weather patterns and extreme events like droughts and floods directly affect crop yields and farming productivity.
Market Volatility: Farmers often face price instability for their goods, with factors like trade policies and consumer demand affecting prices.
THE NEED
However the need for small, local farms remains a vital part of the "American Way." With over 15,000 registered Farmer's Markets nationwide and with more and more families switching to healthier eating habits, buying local and organic; the need for the farming community continues to grow.
The Credit Union Council for Agricultural Advancement is a non-profit, 501c6 professional organization aimed at supporting and advancing its membership. CUCAA is proudly managed by Synergistic CU Solutions.