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The farm crisis is not over

Author

Listed:
  • Carl R. Zulauf

    (Department of Agricultural Economics and Rural Sociology, The Ohio State University)

  • Allan E. Lines

    (Department of Agricultural Economics and Rural Sociology, The Ohio State University)

Abstract

As farm income establishes nominal records, optimism has returned to US agriculture. However, examination of the causes-declining farm expenses, high government payments, and high livestock profits-suggests foreboding. Target prices can decline under the 1985 Farm Bill, and livestock profits will decline as production expands. Compared with current values, farm profits could decline $10-$15 billion, farm asset values could decline 20-30%, and farm debt could decline 40-50%. These suggest the farm crisis is not over. Also, number of farms will likely decline due to declining prices; and forces supporting supply management may be strengthened.

Suggested Citation

  • Carl R. Zulauf & Allan E. Lines, 1988. "The farm crisis is not over," Agribusiness, John Wiley & Sons, Ltd., vol. 4(2), pages 109-118.
    • Handle: RePEc:wly:agribz:v:4:y:1988:i:2:p:109-118
    DOI: 10.1002/1520-6297(198803)4:2<109::AID-AGR2720040202>3.0.CO;2-I
    as

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    References listed on IDEAS

    as
    1. Huang, Kuo S., 1985. "U.S Demand for Food: A Complete System of Price and Icome Effects," Technical Bulletins 206507, United States Department of Agriculture, Economic Research Service.
    2. Alan Barkema, 1987. "Farmland values: the rise, the fall, the future," Economic Review, Federal Reserve Bank of Kansas City, vol. 72(Apr), pages 19-35.
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