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May 23, 2024
Source: Farm Progress news release ST. CHARLES, ILL. -- In a new report from Farm Futures, the leading farm business magazine from Farm Progress, the Best Places to Farm ranks 3,056 counties across the United States by financial performance. By analyzing proprietary data and the recently released results from USDA's 2022 Census of Agriculture, Farm Futures averaged weighted ranks of the ratios on return on assets, profit margins and asset turnover for each county. Contributing Market Analyst Bryce Knorr used the same formula to evaluate census data over the last 20 years. "In an era where size is seen as an economic driver for growers, our analysis shows farmland value and productivity are the other two legs of the performance stool," said Pam Caraway, executive editor of Farm Futures. "Proximity to end users and diversity weigh heavily on whether farms prosper. The data is intriguing. The input provided by farmers across the country makes it fascinating." In this five-year cycle, several turbulent years led up to the 2022 U.S. Ag Census with a trade war, global pandemic, supply chain instability, plus a surge in inflation. Looking back on ag census data from 2012 and 2017 also shows how financial performance has moved across the U.S. "Our dynamic report, Best Places to Farm, takes national on-farm financial performance data and makes it relevant on the local level," said Mike Wilson, senior executive editor at Farm Progress. "Farming is local - and agriculture's economic impact is essential for healthy rural communities." To learn more about the Best Places to Farm report and view an interactive map to see how your county ranks click here. About Farm Progress As part of Informa Markets, Farm Progress is the largest, most diversified agriculture information business in North America. Through a robust network of live events, digital products, data, marketing services, broadcasting and local and national publications, Farm Progress enables the nation's most economically significant farmers, growers and ranchers to connect and do business. It serves 80% of the 2 million farms and ranches in the U.S., and an estimated 85% of the nation's annual agricultural gross domestic product. Visit our website at https://Marketing.FarmProgress.com. Tweet |
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