Cost Of Producing Corn And Soybeans 1974

Author : U. S. Economic Research Service
Publisher : Forgotten Books
ISBN 13 : 9781390513868
Total Pages : 32 pages
Book Rating : 4.5/5 (138 download)

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Download or read book Demand and Price Situation, Vol. 141 written by U. S. Economic Research Service and published by Forgotten Books. This book was released on 2018-09-08 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Demand and Price Situation, Vol. 141: August 1974 Bad weather has shattered earlier expectations for record crop production in 1974 and a subsequent decline of food prices. The only bright spots are the wheat and rice crops which are expected to be 8 and 15% larger than last year, respectively. Adverse weather has reduced expected yields of the major crops and total crop production may fall 6% below last year. Feed grain production, particularly corn, was hard hit by the poor weather, dropping total prospects 15% below last year. Corn production is expected to be down with national yield averaging about 78 bushels per acre, down sharply from last year's 91 bushels. With feed grain stocks already at very low levels there will be sharp reductions in both domestic usage and exports of feed grains in and prices will be higher. Oilseed production is forecast at 47 million tons, 14% less than last year. Soybean production is expected to fall 16% below 1973's record output because of reduced acreage and lower yields. Soybean supply will remain tight in and carryover stocks will be further; reduced. With these prospects, farm prices will strengthen. And ultimately will be reflected in higher retail food costs. Livestock producers, whose profit margins are threatened by high feed grain prices, are not expected to expand production for the remainder of this year. As a result, grain-fed beef production likely will not increase over this summer' 8 level through the remainder of the year, and pork production will decline next year. The rise in retail food prices, which slowed considerably in the second quarter, will accelerate to 3% in the third quarter and moderate in the fourth, pushing this year's food price average 13 to 17% above 1973. That compares with a rise of last year. Realized net farm income for 1974 may reach about billion, second only to last year's record of $32 billion. For 1974, marketing receipts are expected to increase more than $6 billion largely on the strength of higher crop prices. However, farm production expenses, which rose $12 billion last year, will be up nearly that much again this year, led by costs of petroleum fuels and fertilizer. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.