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Million-dollar farms - those with annual sales of at least $1 million - accounted for about half of U.S. farm sales in 2002, up from a fourth in 1982 (with sales measured in constant 2002 dollars). By 2006, million-dollar farms, accounting for 2% of all U.S. farms, dominated U.S. production of high-value crops, milk, hogs, poultry and beef.
Most million-dollar farms (84%) are family farms, where the farm operator and relatives of the operator own the business. The million-dollar farms organized as non-family corporations tend to have no more than 10 stockholders.
