US Agriculture, Forestry and Fishing Sector
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1.9 million farms and establishments involved in agricultural support, forestry, fishing, and hunting make up the sector. Establishments in this sector are focused on propagating and harvesting plants and animals for food, materials, and sport. While the vast majority of operations are small or family-owned businesses, corporate enterprises are entering the sector at a growing rate.
Food Safety and Traceability
Intentional and unintentional contamination of the US food supply is a growing concern.
Reliance on Government Support
The agricultural and fishing subsectors benefit from government subsidies that increase income and reduce risk and costs.
Industry size & Structure
The agriculture, forestry, fishing, and hunting sector comprises 23,300 establishments and 1.9 million farms that together employ over 1 million workers and generate about $616.8 billion in annual revenue.
- The sector represents 0.94% of the nation's Gross Domestic Product (GDP) and employs 0.8% of the country's workers.
- The sector is highly fragmented, dominated by independent farms and owner-operated businesses.
- In addition to employer establishments, the agriculture, forestry, fishing, and hunting sector (aside from farms) has 255,956 owner-operated establishments with no employees. Subsectors with the highest numbers of nonemployer establishments are crop support services (26%); fishing (24%); and animal support services (23%). The owners of nonemployer firms typically perform the work and may outsource support functions like marketing and accounting.
- Overall employment in farming, fishing, and forestry occupations is projected to decline over the next decade. From 2022 to 2032, the agricultural workforce is expected to shed 16,000 jobs, with little or no change for fishing and hunting workers, according to the Bureau of Labor Statistics. Logging is projected to shed 2,400 jobs and forestry and conservation to decline by 1,000 positions.
Industry Forecast
US Agriculture, Forestry and Fishing Sector Industry Growth
Recent Developments
Apr 16, 2025 - Trump Revises Port-Fee Plan
- After threatening to slap steep fees on China-linked ships entering US ports, the Trump administration revised its plan to lessen the impact on US agriculture and energy exports, The Wall Street Journal reported in April. Trump’s initial plan was roundly criticized by agriculture industry executives, who said it would hobble US farm exports. The administration’s revised plan is to base the fees largely on vessel capacity, resulting in lower fees for smaller ships arriving at US ports. The US Trade Representative is also looking to ease the charges on ships carrying agricultural exports like soybeans and timber, according to WSJ. The USTR’s original plan, announced in February, was to charge Chinese-built vessels between $500,000 and $1.5 million for each port call. The port-fee plan is part of an effort by the Trump administration to revive shipbuilding in the US, which lags behind other countries.
- On the heels of President Trump’s executive order (EO14225) to increase US timber production by opening US National Forests to logging, USDA Secretary Brooke Rollings in April issued a memo declaring an “Emergency Situation Determination," requiring the roll back of environmental protections on almost 60% of the national forests – more than 112 million acres of land mostly in the west – USA Today reports. The emergency order will allow the US Forest Service to bypass many existing environmental regulations and cited protections against wildfires and the need to boost the domestic timber industry as its rationale. A follow-up letter from the US Forest Service directs all Regional Foresters to develop 5-year strategies to increase their timber volume offered, leading to an agencywide increase of 25% over the next 4-5 years. The timber industry applauded the new order while environmentalists called it a “logging giveaway,” according to USA Today.
- The federal government has come to the rescue of the ailing US farm sector with an unprecedented infusion of cash, Farm Journal reports. The nation’s farms can expect to see a significant increase in net farm income in 2025, primarily driven by a staggering 345% increase in government payments, despite a decline in overall farm revenues. According to the USDA’s Economic Research Service, net farm income is forecast to reach $180.1 billion, up $41 billion from 2024, while net cash farm income is projected to hit $193.7 billion, a $34.5 billion increase. Farm Journal notes that while the increase in government payments has bolstered working capital and improved financial health indicators, concerns persist regarding the long-term sustainability of farm support programs. With farm receipts declining and tariff uncertainties looming, lawmakers may face pressure to reform the farm safety net.
- President Trump has signed an executive order temporarily halting offshore wind lease sales in federal waters and pausing the issuance of approvals, permits, and loans for onshore and offshore wind projects, the AP reports. While the order is likely to face a court challenge, it’s being welcomed by commercial fishers – including the New England Fishermen’s Stewardship Association – opposed to offshore wind development out of concern about the potential impact on catches along the East Coast. While the order doesn’t seek to freeze wind projects already under construction, the administration is exploring the possibility of “terminating or amending” any leases that have already been issued. The Biden administration approved permits for 11 commercial-scale wind farms along the East Coast of which five are under construction and one has been completed, according to The New York Times.
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