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Size and Importance of Agribusiness

Size and Importance of Agribusiness. Chapter 2. Land. US has 2.3 billion acres 21% crops 25% livestock 30% forest 24% non ag use. Farms. 2.2 million farms averaging 418 acres Ohio has 75,000 farms averaging 187 acres. Farm size. 173,000 farms are bigger than 1,000 acres

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Size and Importance of Agribusiness

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  1. Size and Importance of Agribusiness Chapter 2

  2. Land • US has 2.3 billion acres • 21% crops • 25% livestock • 30% forest • 24% non ag use

  3. Farms • 2.2 million farms averaging 418 acres • Ohio has 75,000 farms averaging 187 acres

  4. Farm size • 173,000 farms are bigger than 1,000 acres • 150,000 farms are 500-1,000 acres • 368,000 farms are 180-499 acres • 661,000 farms are 50-179 acres • 620,000 farms are 10-49 acres • 233,000 farms are less than 10 acres

  5. Gross National Product • Value of all goods produced in a year • Ag accounts for 17% of GNP and 20% of all jobs

  6. Farmers earn about 30 cents for every dollar spent on food

  7. Inputs • Seed, feed, livestock, fertilizer, line, hired labor

  8. Outputs • Meat and dairy processing industry • Baking • Canned, cured and frozen foods • Cotton/textile industry

  9. Ag Services Public agriservices • Research, education, communication and regulation Private agriservice Financial services, trade associations, cooperatives

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