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Production Costs, Resource Returns, and Other Economic Characteristics: Commercial Cotton Farms, Southern High Plains, Texas, 1966-69

Author

Listed:
  • Evans, J. Albert
  • Hughes, W. F.

Abstract

Estimated net incomes on typical cotton farms in the Southern High Plains of Texas during 1966-69 ranged from a high of $25,390 to a low of $6,430. The variations depended partly on whether the farm was irrigated, and on whether the operator was a full owner, a part owner, or a full tenant. With no charge for capital used in farm operations, and with operators assumed to be debt-free, net incomes were highest for full owners and lowest for full tenants in all years, and higher on nonirrigated than on irrigated farms except during 1967. When a 6-percent capital charge on the current value of assets was included as an opportunity cost, returns to full tenants were highest, with returns to part owners next. Inclusion of the 6-percent capital charge indicated that returns to capital invested in land were relatively lower than returns to operating capital or to operator labor and management.

Suggested Citation

  • Evans, J. Albert & Hughes, W. F., 1971. "Production Costs, Resource Returns, and Other Economic Characteristics: Commercial Cotton Farms, Southern High Plains, Texas, 1966-69," Miscellaneous Publications 324002, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:324002
    DOI: 10.22004/ag.econ.324002
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