Crop Farmers’ Use of Market Advisory Services

Olga Isengildina, Joost Pennings (), Scott Irwin and Darrel L. Good

No 37489, AgMAS Project Research Reports from University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics

Abstract: This study sought to examine the nature of farmers’ use of market advisory services based on the results of a survey of US crop producers. The survey revealed that market advisory service users tend to be significantly more risk seeking than non-users. Survey results indicated a large range in patterns of use of advisory services. Most farmers use advisory services to the greatest extent for marketing information, market analysis, and to keep up with markets. General guidelines (market strategies and price information) are utilized more than specific advice (e.g., specific pricing decisions, price forecasts). Only 11% of farmers reported that they closely follow the marketing recommendations provided by advisory services. Nonetheless, farmers report that the information provided by advisory services has a substantial impact on their marketing decisions. The implications of these results for advisory services, farmers, extension programs and research are discussed.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Pages: 34
Date: 2004-05
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uiucrr:37489

DOI: 10.22004/ag.econ.37489

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