Resource Use and Returns for Grade A Dairy Farms, 1968-69: Based on Studies in Southeastern Wisconsin and Central New York

David E. Cummins

No 323967, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: Incomes in 1969 on two synthesized, representative 40-cow dairy farms were about $15,100 in central New York and $19,600 in southeastern Wisconsin, both record-highs and about 10 percent above 1968 levels. Farm expenses advanced 4 to 5 percent on farms in both areas, but gross income increased about 7.5 percent largely because milk prices continued to rise. The income position of these milk producers has improved considerably since 1965. As significant increases in milk prices have kept ahead of steadily rising prices paid for production items. Partitioning farm returns to resources according to resource functions of investment, ownership, labor, and management revealed that rates of return competitive with use in alternative employment were earned on dairy farms in both areas in 1968 and 1969.

Keywords: Demand and Price Analysis; International Relations/Trade; Labor and Human Capital; Livestock Production/Industries; Marketing; Production Economics; Productivity Analysis; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 25
Date: 1971-03
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:323967

DOI: 10.22004/ag.econ.323967

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