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Recent Cost Increases: Their Future Impacts on Agriculture*

Published online by Cambridge University Press:  28 April 2015

Wayne A. Boutwell  and
Thomas W. Little
Wayne A. Boutwell
Affiliation:
Oil Crops Program Area; a-d Coordinator, Forecast Support Group, CED, ERS, USDA
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Extract

The impact of rapidly escalating input prices of farm income, agricultural production, production adjustments, the general price level, the cost of living and capital requirements in the agricultural sector is a source of increasing concern to farmers, suppliers of capital to agriculture, and consumers of agricultural products. Record prices for agricultural commodities, such as feed grains and soybeans, partially masked the effects of a 52 percent increase in the index of prices paid for production items on net farm income during the period 1971–74. As agricultural machinery and farm buildings are replaced, world stocks of agricultural commodities are replenished, and domestic prices begin to decline, the magnitude of these cost increases will become more apparent.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 7 , Issue 1 , July 1975 , pp. 71 - 79
Copyright
Copyright © Southern Agricultural Economics Association 1975

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Footnotes

*

Agricultural Economists, Oil Crops Program Area, Commodity Economics Division, Economic Research Service, U.S. Department of Agriculture

References

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