U.S. farming, according to a just-released study, remains predominantly family-owned.

According to "America’s Diverse Family Farms: 2019 edition," a report from the USDA’s Economic Research Service that was released Wednesday, family farms as a group represent 98% of U.S. farms and 88% of production in 2018.

Approximately 90% of U.S. farms are considered small farms. In 2018, these farms, bringing in less than $350,000 in gross revenue, accounted for 48% of farm acres. Although the majority of farmers reside on small farms and have a large amount of land, their production holds at 21%.

While the large-scale family farm - those that brought in at least $1 million in gross revenue - owns fewer than 3% of U.S. farms and less than 20% of the land. Yet, these farms account for slightly more than 45% of production.

However, there are certain areas in which small farms dominate -- eggs, hay and poultry. Midsize and large-scale family farms dominate in cotton (82% of production), hogs (66%) and dairy (more than 70%).

The study also examined the operating risk associated with the different types of farms and found small farms have a greater share of risk.

According to the report, most farmers earn more than the U.S. median income of slightly more than $63,000. Moderate-sale farms produce an income of just under $100,000, with midsize and large farms exceeding $100,000. The report states that very large farms show an income of more than $700,000.

“In general, farm households do not have low income,” said Christine Whitt, agricultural economist for the Economic Research Branch. “Retirement family farms and low-sales farms are the only two typology classes with medium farm incomes below the medium of all U.S. households.”

The medium household income increases as the farm size increases.

“Farming is still overwhelmingly comprised of family businesses. We’ve seen a consolidation of small farms into larger farms in the past 20 years,” Whitt said. “This is typical of lower commodity prices."