1. Economic Indicators of the Farm Sector. Costs of Production, 1986.
- Author
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Economic Research Service (USDA), Washington, DC.
- Abstract
This report contains 121 tables that estimate the costs of production of various commodities on United States farms in 1986. The report first assesses costs and returns on a per-unit basis, such as one acre or one animal, under three sections of a budget: cash receipts, cash expenses, and economic costs. The budgets are based on national weighted-average estimates of all costs associated with the particular enterprise. The 1986 summary is followed by an explanation of account structure, the procedures and methodology used, how to use the data, and the budgets themselves. Some of the highlights of the report are the following: (1) production costs and the costs of investing in machinery and buildings declined in 1986; (2) these reductions combined with higher government payments to moderate declines in the value of commodities at the marketplace; (3) cash receipts per acre fell for all crops except peanuts, sugar beets, and sugar cane; (4) declining feed costs and higher hog prices helped many hog producers' returns exceed expenses; (5) sheep ranchers saw strengthened returns mainly because of reduced expenses; (6) the drop in feed costs helped beef producers improve net cash returns despite their lowest receipts since 1978; (7) U.S. farmers planted about 5.6 million fewer acres; total crop production declined: feed grain output fell 8 percent, oilseed output dropped 6 percent, and food grain output fell 13 percent. (KC)
- Published
- 1987