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Agricultural Contracting Update: Contracts in 2003

Author

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  • MacDonald, James M.
  • Korb, Penelope J.

Abstract

Marketing and production contracts covered 39 percent of the value of U.S. agricultural production in 2003, up from 36 percent in 2001 and a substantial increase over estimated values of 28 percent for 1991 and 11 percent in 1969. Large farms are far more likely to contract than small farms; in fact, contracts cover over half of the value of production from farms with at least $1 million in sales. Although use of both production and marketing contracts has grown over time, growth is more rapid for production contracts, which are largely used for livestock.

Suggested Citation

  • MacDonald, James M. & Korb, Penelope J., 2006. "Agricultural Contracting Update: Contracts in 2003," Economic Information Bulletin 33903, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersib:33903
    DOI: 10.22004/ag.econ.33903
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    Cited by:

    1. Michael Stahlman & Laura McCann, 2012. "Technology characteristics, choice architecture, and farmer knowledge: the case of phytase," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 29(3), pages 371-379, September.
    2. Franken, Jason & Cook, Michael L., 2022. "Conditions Conducive for Collective Action: What’s Different about Agriculture?," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322416, Agricultural and Applied Economics Association.
    3. Blank, Steven C. & Volpe, Richard J. III & Erickson, Kenneth W., 2008. "The relationship between industry structure and production contracting: raising questions at the beginning of a trend," 2008 Annual Meeting, June 23-24, 2008, Big Sky, Montana 291743, Western Agricultural Economics Association.
    4. Andrea E. Woolverton & Michael E. Sykuta, 2009. "Do Income Support Programs Impact Producer Hedging Decisions? Evidence from a Cross-Country Comparative," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(4), pages 834-852.
    5. Frasa, Stefanie & Carlberg, Jared & Hogan, Robert, 2015. "Use of Contracts by Prairie Agricultural Producers," Working Papers 232328, Structure and Performance of Agriculture and Agri-products Industry (SPAA).
    6. Katchova, Ani L., 2010. "Agricultural Contracts and Alternative Marketing Options: A Matching Analysis," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 42(2), pages 261-276, May.
    7. Epperson, J.E., 2010. "An Examination of the Market Structure of the U.S. Produce Industry," Journal of Food Distribution Research, Food Distribution Research Society, vol. 41(1), pages 1-6, March.
    8. Jaenicke, Edward C. & Shields, Martin & Kelsey, Timothy W., 2007. "Food Processors' Use of Contracts to Purchase Agricultural Inputs: Evidence from a Pennsylvania Survey," Agricultural and Resource Economics Review, Cambridge University Press, vol. 36(2), pages 213-229, October.
    9. Nicolás Acevedo Vélez, 2007. "The cattle crush strategy: trading opportunities for cattle producers," Revista Ecos de Economía, Universidad EAFIT, October.
    10. Donnelly, Kallie & Noel, Jay E., 2006. "Optimal Market Contracting in the California Lettuce Industry," 2006 Annual meeting, July 23-26, Long Beach, CA 21461, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. William W. Wilson & Bruce L. Dahl & D. Demcey Johnson, 2007. "Quality Uncertainty and Challenges to Wheat Procurement," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 55(3), pages 315-326, September.
    12. Claude Ménard, 2017. "Finding our way in the jungle: insights from organization theory," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04001137, HAL.
    13. Almuhanad Melhim & C. Richard Shumway, 2013. "Cost economies in the presence of marketing contracts," Applied Economics, Taylor & Francis Journals, vol. 45(7), pages 921-932, March.
    14. Claude Ménard, 2017. "Finding our way in the jungle: insights from organization theory," Post-Print hal-04001137, HAL.
    15. Yu, Xiaohua & Abler, David G. & Peng, Chao, 2008. "Dancing with the Dragon Heads: Enforcement, Innovations and Efficiency of Contracts between Agricultural Processors and Farmers in China," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6144, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    16. Ronald Rich, 2008. "Fecal free: Biology and authority in industrialized Midwestern pork production," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 25(1), pages 79-93, January.
    17. Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 59404, United States Department of Agriculture, Economic Research Service.
    18. Miller, Elizabeth & Mallory, Mindy L. & Baylis, Katherine R. & Hart, Chad E., 2012. "Basis Effects Of Ethanol Plants In The U.S. Corn Belt," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124984, Agricultural and Applied Economics Association.

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    Keywords

    Industrial Organization; Marketing;

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