Economic and Marketing Information for Indiana Farmers (Dec. 31, 1965) |
Previous | 1 of 4 | Next |
|
|
Loading content ...
Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana December 31, 1965 New Feed Grain, Wheat Certificate And Cropland Adjustment Programs1 by Paul R. Robbins, Agricultural Economics The Food and Agriculture Act of 1965 will be in effect for the 1966- 69 crop years. It continues to extend the Feed Grain Program and Wheat Certificate Program in much the same form as for 1965. In addition, it authorizes a new Cropland Adjustment Program designed to retire land from production on a semi-permanent basis. Feed Grain Program As in the past, those who participate must divert a minimum of 20 percent of the feed grain base to conserving uses. Conserving crops or uses will be required on any additional acres diverted for payment as well as for minimum diversion. As in prior years, participants must maintain their normal acreage (1959-60) in soil conserving crops. Some of the major changes in 1966 as compared to 1965: • Yields for determining payments will be projected at higher levels. In 1965 average Indiana corn yield on which payments were based was 74.5 bushels, in 1966 it will be 89.8 bushels. • No diversion payment will be made for minimum 20 percent diversion, except for small acreages. • Price support payments will be higher than in 1965 but payments will be limited to 50 percent of a farmer s base acreage. • Loan rate will be lowered but total support will be increased. Assistance in the interpretation of details of the programs was provided by Robert Cullen and Robert Lowe, program specialists of the State ASCS Office. A producer with a feed grain base of 25 or fewer acres may divert all of his acreage and receive diversion payments on all of it. On the first 20 percent diversion, these farmers will be eligible for a payment at a rate of 20 percent of the county sup port rate applied to the diverted acres on the basis of projected yield. On additional diversion, the rate will be at 50 percent of the county support rate. Small farmers who divert less than the maximum will be eligible for price support payments and loans. Table 1. The 1965 and 1966 Feed Grain Programs Compared for Corn1 Year Item 1965 1966 Loan rate $1.05 $1.00 Price support payment 20 cents per bushel based on smaller of planted or permitted acreage 30 cents per bushel based on smaller of planted acreage or one-half of base Total support $1.25 $1.30 Yield for payment (Indiana average) 74.5 bu. 89.8 bu. Diversion payment: First 20% 20% X total support X yield None unless base is 25 acres or less 50% diversion 50% X total support X yield 50% X total support X yield on diversion in ex- cess of 20% 1 Changes made for grain sorghum and barley for 1966 as compared to 1965 are similar to changes made for corn. Table 2. Budgeted Returns from Participation in the 1966 Feed Grain Program At Various Levels of Participation, Different Projected Yields and Various Price Levels Projected yield assigned to farm Expected yield Returns abo 100 acres ve variable feed grain costs base per l Expected price % of feed grain base c 0 20 iverted: 50 90 90 90 100 100 100 100 100 100 100 100 100 $1.00 1.10 1.20 1.00 1.10 1.20 $5,950 6,950 7,950 5,950 6,950 7,950 $6,310 7,110 7,910 6,460 7,260 8,060 $6,580 7,080 7,580 6,925 7,425 7,925 1 This is total gross returns per 100 acres feed grain base from corn produced plus program payments plus $10 per acre net fertility credit for each acre diverted less variable costs at $40.50 per acre at 100 bushel yield level for each acre of corn produced. Fixed production costs for such as taxes, interest on land investment, machinery, depreciation and labor have not been deducted.
Object Description
Title | Economic and Marketing Information for Indiana Farmers (Dec. 31, 1965) |
Purdue Identification Number | UA14-13-econ196512 |
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-econ196512.tif |
Description
Title | Economic and Marketing Information for Indiana Farmers (Dec. 31, 1965) |
Purdue Identification Number | UA14-13-econ196512 |
Transcript | Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana December 31, 1965 New Feed Grain, Wheat Certificate And Cropland Adjustment Programs1 by Paul R. Robbins, Agricultural Economics The Food and Agriculture Act of 1965 will be in effect for the 1966- 69 crop years. It continues to extend the Feed Grain Program and Wheat Certificate Program in much the same form as for 1965. In addition, it authorizes a new Cropland Adjustment Program designed to retire land from production on a semi-permanent basis. Feed Grain Program As in the past, those who participate must divert a minimum of 20 percent of the feed grain base to conserving uses. Conserving crops or uses will be required on any additional acres diverted for payment as well as for minimum diversion. As in prior years, participants must maintain their normal acreage (1959-60) in soil conserving crops. Some of the major changes in 1966 as compared to 1965: • Yields for determining payments will be projected at higher levels. In 1965 average Indiana corn yield on which payments were based was 74.5 bushels, in 1966 it will be 89.8 bushels. • No diversion payment will be made for minimum 20 percent diversion, except for small acreages. • Price support payments will be higher than in 1965 but payments will be limited to 50 percent of a farmer s base acreage. • Loan rate will be lowered but total support will be increased. Assistance in the interpretation of details of the programs was provided by Robert Cullen and Robert Lowe, program specialists of the State ASCS Office. A producer with a feed grain base of 25 or fewer acres may divert all of his acreage and receive diversion payments on all of it. On the first 20 percent diversion, these farmers will be eligible for a payment at a rate of 20 percent of the county sup port rate applied to the diverted acres on the basis of projected yield. On additional diversion, the rate will be at 50 percent of the county support rate. Small farmers who divert less than the maximum will be eligible for price support payments and loans. Table 1. The 1965 and 1966 Feed Grain Programs Compared for Corn1 Year Item 1965 1966 Loan rate $1.05 $1.00 Price support payment 20 cents per bushel based on smaller of planted or permitted acreage 30 cents per bushel based on smaller of planted acreage or one-half of base Total support $1.25 $1.30 Yield for payment (Indiana average) 74.5 bu. 89.8 bu. Diversion payment: First 20% 20% X total support X yield None unless base is 25 acres or less 50% diversion 50% X total support X yield 50% X total support X yield on diversion in ex- cess of 20% 1 Changes made for grain sorghum and barley for 1966 as compared to 1965 are similar to changes made for corn. Table 2. Budgeted Returns from Participation in the 1966 Feed Grain Program At Various Levels of Participation, Different Projected Yields and Various Price Levels Projected yield assigned to farm Expected yield Returns abo 100 acres ve variable feed grain costs base per l Expected price % of feed grain base c 0 20 iverted: 50 90 90 90 100 100 100 100 100 100 100 100 100 $1.00 1.10 1.20 1.00 1.10 1.20 $5,950 6,950 7,950 5,950 6,950 7,950 $6,310 7,110 7,910 6,460 7,260 8,060 $6,580 7,080 7,580 6,925 7,425 7,925 1 This is total gross returns per 100 acres feed grain base from corn produced plus program payments plus $10 per acre net fertility credit for each acre diverted less variable costs at $40.50 per acre at 100 bushel yield level for each acre of corn produced. Fixed production costs for such as taxes, interest on land investment, machinery, depreciation and labor have not been deducted. |
Tags
Add tags for Economic and Marketing Information for Indiana Farmers (Dec. 31, 1965)
Comments
Post a Comment for Economic and Marketing Information for Indiana Farmers (Dec. 31, 1965)