Economic and Marketing Information for Indiana Farmers (Apr. 30, 1965) |
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Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana April 30, 1965 Long Run Outlook For Hogs In Indiana by J. E. Kadlec and J. C. Bottum, Agricultural Economics The outlook for hogs for Indiana farmer's competitive position relative mainly on three factors (1) the outlook for the pork industry; (2) Indiana's position in the U. S. with respect to hog production costs and hog prices; and (3) The individual farmer's competitive position relative to other hog farmers. Outlook for the Pork Industry1 The demand for pork appears likely to increase about one percent per year between now and 1970. While pork consumption per person will probably continue to decrease, population increase will more than offset this decline. Per capita consumption of pork has declined at the rate of 0.7 percent per year from 1947 through 1962. Most of this decline occurred early in the period and year-to-year consumption shows no definite trend since 1954. Several factors that appear to have contributed to the decline in pork consumption may have largely run their course. Population migration from farm to cities is likely to take place at a reduced rate. Quality improvement may also moderate the decline in demand for pork. A part of the increase in demand for beef relative to pork in recent years has been attributed to the increased use of home freezers, desirable display attributes of beef for self- service meat retailing and increased retail promotion of beef. If they have had an adverse effect on pork de- 1 The first two sections of this report draw heavily from a paper presented by Gene A. Futrell, August 20, 1964, at the Midwest Regional Agricultural Outlook Conference, Purdue University. "Hog Situation and Outlook," Iowa State Extension Service Paper M-984, August 12, 1964. mand, these factors may have already exerted their greatest influence. However, continued increases in personal income will result in increased consumer preference for beef and continued decreases in pork consumption per person. The consumer's concern about fat in the diet will continue to be a factor affecting the consumption of pork. It does not seem likely however that the rate of decline will be greater than the .7 percent experienced during the 1947-62 period. If one accepts this rate of decline in consumption per person and the Bureau of Census Series III intermediate population projection for 1970 of 209 million people, total pork consumption in 1970 would be about 12,400 million pounds compared to 1962 consumption of about 11,700 (Figure 1). This projection assumes that foreign demand for U. S. pork and pork products will continue to increase at least as rapidly as the domestic market during the next five years. The advances in technology of feed grain production and in the technology of hog production appear likely to keep pork production costs competitive with other meat products. In other words, it appears likely that pork will at least hold its own competitively with other meat products from the standpoint of cost per unit to consumers. Year Figure 1. Total pork consumption, 1955 to 1962 with projection to 1970. Source of data, Agricultural Statistics 1963.
Object Description
Title | Economic and Marketing Information for Indiana Farmers (Apr. 30, 1965) |
Purdue Identification Number | UA14-13-econ196504 |
Date of Original | 1965 |
Publisher | Purdue University. Agricultural Extension Service |
Subjects (LCSH) |
Farm produce--Indiana--Marketing Agriculture--Economic aspects--Indiana |
Genre | Periodical |
Collection Title | Extension Economic & Marketing Information (Purdue University. Agricultural Extension) |
Rights | Copyright Purdue University. All rights reserved. |
Coverage | United States - Indiana |
Type | text |
Format | JP2 |
Language | eng |
Repository | Purdue University Libraries |
Date Digitized | 05/01/2015 |
Digitization Specifications | Original scanned at 400 ppi on a BookEye 3 scanner using Opus software. Display images generated in Contentdm as JP2000s; file format for archival copy is uncompressed TIF format. |
URI | UA14-13-econ196504.tif |
Description
Title | Economic and Marketing Information for Indiana Farmers (Apr. 30, 1965) |
Purdue Identification Number | UA14-13-econ196504 |
Transcript | Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana April 30, 1965 Long Run Outlook For Hogs In Indiana by J. E. Kadlec and J. C. Bottum, Agricultural Economics The outlook for hogs for Indiana farmer's competitive position relative mainly on three factors (1) the outlook for the pork industry; (2) Indiana's position in the U. S. with respect to hog production costs and hog prices; and (3) The individual farmer's competitive position relative to other hog farmers. Outlook for the Pork Industry1 The demand for pork appears likely to increase about one percent per year between now and 1970. While pork consumption per person will probably continue to decrease, population increase will more than offset this decline. Per capita consumption of pork has declined at the rate of 0.7 percent per year from 1947 through 1962. Most of this decline occurred early in the period and year-to-year consumption shows no definite trend since 1954. Several factors that appear to have contributed to the decline in pork consumption may have largely run their course. Population migration from farm to cities is likely to take place at a reduced rate. Quality improvement may also moderate the decline in demand for pork. A part of the increase in demand for beef relative to pork in recent years has been attributed to the increased use of home freezers, desirable display attributes of beef for self- service meat retailing and increased retail promotion of beef. If they have had an adverse effect on pork de- 1 The first two sections of this report draw heavily from a paper presented by Gene A. Futrell, August 20, 1964, at the Midwest Regional Agricultural Outlook Conference, Purdue University. "Hog Situation and Outlook," Iowa State Extension Service Paper M-984, August 12, 1964. mand, these factors may have already exerted their greatest influence. However, continued increases in personal income will result in increased consumer preference for beef and continued decreases in pork consumption per person. The consumer's concern about fat in the diet will continue to be a factor affecting the consumption of pork. It does not seem likely however that the rate of decline will be greater than the .7 percent experienced during the 1947-62 period. If one accepts this rate of decline in consumption per person and the Bureau of Census Series III intermediate population projection for 1970 of 209 million people, total pork consumption in 1970 would be about 12,400 million pounds compared to 1962 consumption of about 11,700 (Figure 1). This projection assumes that foreign demand for U. S. pork and pork products will continue to increase at least as rapidly as the domestic market during the next five years. The advances in technology of feed grain production and in the technology of hog production appear likely to keep pork production costs competitive with other meat products. In other words, it appears likely that pork will at least hold its own competitively with other meat products from the standpoint of cost per unit to consumers. Year Figure 1. Total pork consumption, 1955 to 1962 with projection to 1970. Source of data, Agricultural Statistics 1963. |
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