Farm Numbers Are Declining
The U.S. had approximately 1.88 million farms in 2024, an 8% decrease from 2.04 million in 2017. This decline reflects ongoing consolidation and the retirement of aging farmers.
Agricultural Land Covers a Significant Portion of the U.S.
In 2022, about 880 million acres were dedicated to agriculture, accounting for roughly 39% of the nation's total land area.
Family Farms Dominate Production
Approximately 95% of U.S. farms are family-owned, contributing to 90% of the total agricultural production value.
Farm Income Is Declining
Net farm income is projected at $140.7 billion for 2024, down 4.1% from 2023 and a 22.6% decrease from the 2022 peak of $181.9 billion.
Input Costs Remain High
Production costs for major crops like corn and soybeans remain elevated, with 2024 input costs ranking as the third-highest on record.
Grain Export Dynamics Are Shifting
For the 2025–26 marketing year, corn exports are strong, but soybean exports are sluggish, facing competition from countries like Brazil and Argentina.
Rise in New and Beginning Farmers
In 2022, 30% of U.S. producers were classified as new and beginning, up from 27% in 2017, indicating a positive trend in attracting new entrants to farming.
Growth in Agrivoltaics
As of January 2025, the U.S. hosts over 500 active agrivoltaic sites, combining agriculture with solar energy production, adding a total of 9 GW to the grid.
Adoption of Autonomous Farming Technologies
Farmers are increasingly utilizing autonomous technologies, such as automated irrigation systems powered by solar energy, to address labor shortages and environmental concerns.