Economic Indicators of the Farm Sector: Costs of Production, 1993—Major Field Crops and Livestock and Dairy

摘要

Average yields for major U.S. field crops in 1993 varied markedly from 1992 as weather patterns affected regional growing conditions. Cotton and wheat yields dropped by only 2-3 percent while yields fell for corn, sorghum, oats, and peanuts more than20 percent. Although cash costs were within 5 percent of 1992 levels, low yields caused returns above cash costs to fall for major crops and cow-calf operations. Residual returns to management and risk at the U.S. level were negative for all major crops in 1993 and considerably lower than in 1992.