Farms Reporting Dairy Sales in 1964: Selected Characteristics

Boyd M. Buxton

No 322815, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: A nationwide survey of farms in 1964 indicated major differences in the characteristics of farms reporting dairy sales by region and by level of mechanization. Among regions, the average volume of milk sold per farm varied from 108,000 pounds in the Northern Plains to 834,000 pounds in the Pacific region. The percentage of total farm sales from dairy sources varied from 16 percent in the Northern Plains to 85 percent in the Northeast region. In the Appalachian region, the market value of total assets was about $52,000 per farm, compared with $160,000 in the Pacific region. The average ratio of liabilities to assets owned was as low as 0.11 in the Appalachian and Delta States regions and as high as 0.18 in the Corn Belt, Northern Plains, and Pacific regions. Only 4 percent of the farms reporting milk sales in the important Northeast and Lake States dairy areas had milking parlors. This compared with 37 percent in the Delta States region and 62 percent in the Pacific region. Farms equipped with milking parlors sold 50 percent more milk, obtained a larger proportion of total farm sales from dairy sources, and used more seasonal labor and total labor per farm than farms equipped with conventional stanchion barns. Relationships between the pounds of milk sold and (1) operator's age, (2) total liabilities of the farm operator, and (3) percentage of total farm sales from dairy sources and relationships between operator's age and total liabilities of the farm operator were statistically significant.

Keywords: Farm Management; Financial Economics; Labor and Human Capital; Livestock Production/Industries; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 32
Date: 1970-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:322815

DOI: 10.22004/ag.econ.322815

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