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

J. Albert Evans and W. F. Hughes

No 324002, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

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.

Keywords: Crop Production/Industries; Farm Management; Labor and Human Capital; Land Economics/Use; Production Economics; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 35
Date: 1971-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:324002

DOI: 10.22004/ag.econ.324002

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