Cornhusker Economics



By Kathleen Brooks and Brad Lubben

Introduction

Earlier this month, the United States Department of Agriculture National Agricultural Statistics Service published data from the 2022 Census of Agriculture. This data is collected every five years. The current article highlights a few of the Nebraska numbers. Two significant highlights from the data are the total number of farms and the total value of production. U.S. farm numbers declined modestly in the U.S. from 2.04 million in 2017 to 1.90 million in 2022. The total value of production for U.S. farms and ranches increased substantially from $388.5 billion in 2017 to $543.1 billion in 2022. Crop production accounted for about 52% of the total value of production, while livestock accounted for the remaining 48% of production.

Nebraska farm numbers and value of production

The total number of farms in Nebraska decreased from 46,332 in 2017 to 44,479 farms in 2022, with the average farm size increasing from 971 acres in 2017 to 989 acres in 2022. Figure 1 represents the number of farms in Nebraska by the value of sales.  The number of farms with less than $500,000 in sales declined from 38,280 farms in 2017 to only 35,091 farms in 2022, while the number of farms with over $500,000 in sales increased from 8,052 farms in 2017 to 9,388 farms in 2022. Approximately 21% of farms in Nebraska produced less than $2,500 in sales, 34% of farms produced between $2,500 and $99,999, 24% of the farms produced between $100,000 and $499,000 in sales, with the remaining 21% of farms producing over $500,000 in sales.



Read More

Subscribe


Past Issues