Economic and Marketing Information for Indiana Farmers (Aug. 31, 1967) |
Previous | 1 of 6 | Next |
|
|
Loading content ...
Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana August 31, 1967 The Soybean Market Situation: Biggest Crop in Prospect by W. S. Farris, Agricultural Economics Another big soybean crop is just ahead—probably the largest in history. Prices at harvest are likely to average 5 to 15 cents below the support level of $2.50 per bushel. The 1967 crop is estimated at near one billion bushels, another record in the steady increasing output of soybeans. All of this—the big crop, the big carryover, plus lagging exports—means that carryover stocks are building up. Stocks of soybeans on September 1 are expected to be about 100 million bushels. Soybean exports for 1966-67 are averaging about the same as for the previous year and will probably total about 250 million bushels as of September 1, 1967; exports of soybean oil are up 10 percent from last year. Soybean crushings are up slightly, estimated to total about 550 million bushels for the 1966-67 crop year. Soybean meal is being utilized at about the same rate as last year which will result in total disposition of about 13 million tons. The condition of the 1967 crop appears good and yield estimates were placed at 24.9 bushels per acre as of August 1. Farmers planted 40.1 million acres of soybeans in 1967, and this would result in a harvest of 999 million bushels (Au gust 1 estimate;. Indiana's crop is estimated at 74 million bushels. The total supply of soybeans for use in the 1967- 68 season will total about 1.1 billion bushels. Soybean prices will likely move down as the harvest approaches. Harvest time prices will probably average 5 to 15 cents below the $2.50 support level. Prices are expected to strengthen during the months following harvest, probably increasing by more than enough to cover storage costs. The supply and utilization situation for the 1966 and 1967 soybean crops is summarized as follows: 1966-67 1967-68 (est.) Supply (000 bushels) Carryover (Sept. 1 ) 35,639 100,000 Production 931,491 999,000 Total Supply 967,1.30 1,099,000 Utilization Crushings 560,000 (est.) 575,000 Exports 250,000 (est.) 275,000 Feed, Seed and Residual 55,000 (est.) 60,000 Total 865,000 (est.) 910,000 What The 1966 Farm Records Show by F. V. Smith, Agricultural Economics Average farm labor income for 470 Indiana farm account cooperators was SI 1,799 in 1966 compared with $15,- 723 in 1965. Net cash farm income actually was somewhat higher in 1966 than in 1965. However, the net change in inventories was $4,108 smaller than in 1965 (Table 1). Lower corn yields and lower inventory prices, particularly hog prices, in 1966 were responsible for most of the decrease in inventory change. Earnings in 1966, compared with 1965, were substantially lower in the central area, slightly lower in the southern area and slightly higher in the northern area of the State. Although these data reflect the trends in farm earnings and farm organization, cooperators' farms average larger than the average for all farms in Indiana and are operated somewhat more efficiently than average. Therefore, data in this report should not be considered as representative for all farms in the State. Size and investment Increase Continued Average size of cooperators' farm units has more than doubled during the last 25-30 years. Since 1963, the yearly. Capital investment per farm size has increased by about 30 acres unit in 1966 was about 10 times the 1935-39 average (Table 1). The amount of capital required per man has increased from about $11,000 (1935-39) to about $107,000 in 1966. The number of men per farm during this period has not changed significantly. Earnings Varied with Size and Efficiency Average labor income in 1966 increased as size of farms increased. However, size alone doesn't determine earnings; the difference in earnings between most profitable and least profitable groups of farms was greater than the difference in earnings between size- groups (Table 2). Differences in volume of business, choice of enterprises, relative prices of farm products and efficiency in the production of crops, livestock and livestock products accounted for the major part of the differences in earnings be-
Object Description
Title | Economic and Marketing Information for Indiana Farmers (Aug. 31, 1967) |
Purdue Identification Number | UA14-13-econ196708 |
Date of Original | 1967 |
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-econ196708.tif |
Description
Title | Economic and Marketing Information for Indiana Farmers (Aug. 31, 1967) |
Purdue Identification Number | UA14-13-econ196708 |
Transcript | Economic and Marketing Information FOR INDIANA FARMERS Prepared by the Agricultural Staff of Purdue University, Lafayette, Indiana August 31, 1967 The Soybean Market Situation: Biggest Crop in Prospect by W. S. Farris, Agricultural Economics Another big soybean crop is just ahead—probably the largest in history. Prices at harvest are likely to average 5 to 15 cents below the support level of $2.50 per bushel. The 1967 crop is estimated at near one billion bushels, another record in the steady increasing output of soybeans. All of this—the big crop, the big carryover, plus lagging exports—means that carryover stocks are building up. Stocks of soybeans on September 1 are expected to be about 100 million bushels. Soybean exports for 1966-67 are averaging about the same as for the previous year and will probably total about 250 million bushels as of September 1, 1967; exports of soybean oil are up 10 percent from last year. Soybean crushings are up slightly, estimated to total about 550 million bushels for the 1966-67 crop year. Soybean meal is being utilized at about the same rate as last year which will result in total disposition of about 13 million tons. The condition of the 1967 crop appears good and yield estimates were placed at 24.9 bushels per acre as of August 1. Farmers planted 40.1 million acres of soybeans in 1967, and this would result in a harvest of 999 million bushels (Au gust 1 estimate;. Indiana's crop is estimated at 74 million bushels. The total supply of soybeans for use in the 1967- 68 season will total about 1.1 billion bushels. Soybean prices will likely move down as the harvest approaches. Harvest time prices will probably average 5 to 15 cents below the $2.50 support level. Prices are expected to strengthen during the months following harvest, probably increasing by more than enough to cover storage costs. The supply and utilization situation for the 1966 and 1967 soybean crops is summarized as follows: 1966-67 1967-68 (est.) Supply (000 bushels) Carryover (Sept. 1 ) 35,639 100,000 Production 931,491 999,000 Total Supply 967,1.30 1,099,000 Utilization Crushings 560,000 (est.) 575,000 Exports 250,000 (est.) 275,000 Feed, Seed and Residual 55,000 (est.) 60,000 Total 865,000 (est.) 910,000 What The 1966 Farm Records Show by F. V. Smith, Agricultural Economics Average farm labor income for 470 Indiana farm account cooperators was SI 1,799 in 1966 compared with $15,- 723 in 1965. Net cash farm income actually was somewhat higher in 1966 than in 1965. However, the net change in inventories was $4,108 smaller than in 1965 (Table 1). Lower corn yields and lower inventory prices, particularly hog prices, in 1966 were responsible for most of the decrease in inventory change. Earnings in 1966, compared with 1965, were substantially lower in the central area, slightly lower in the southern area and slightly higher in the northern area of the State. Although these data reflect the trends in farm earnings and farm organization, cooperators' farms average larger than the average for all farms in Indiana and are operated somewhat more efficiently than average. Therefore, data in this report should not be considered as representative for all farms in the State. Size and investment Increase Continued Average size of cooperators' farm units has more than doubled during the last 25-30 years. Since 1963, the yearly. Capital investment per farm size has increased by about 30 acres unit in 1966 was about 10 times the 1935-39 average (Table 1). The amount of capital required per man has increased from about $11,000 (1935-39) to about $107,000 in 1966. The number of men per farm during this period has not changed significantly. Earnings Varied with Size and Efficiency Average labor income in 1966 increased as size of farms increased. However, size alone doesn't determine earnings; the difference in earnings between most profitable and least profitable groups of farms was greater than the difference in earnings between size- groups (Table 2). Differences in volume of business, choice of enterprises, relative prices of farm products and efficiency in the production of crops, livestock and livestock products accounted for the major part of the differences in earnings be- |
Tags
Add tags for Economic and Marketing Information for Indiana Farmers (Aug. 31, 1967)
Comments
Post a Comment for Economic and Marketing Information for Indiana Farmers (Aug. 31, 1967)