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Agriculture rides out the storm

Author

Listed:
  • Alan Barkema
  • Mark Drabenstott

Abstract

Harsh weather pummeled U.S. agriculture in 1993, destroying crops and threatening a downturn in the farm economy. But while the rough weather took a large toll from many farmers, others prospered. Overall, the industry ended the year in solid financial condition.> Barkema and Drabenstott explain why agriculture is well-positioned for a better year in 1994. With a return to normal weather, crop production should rebound. Higher crop prices, pushed up by lean crop inventories, may reward farmers for bringing larger crops to market. But higher crop prices will also push up feed costs for livestock producers. Overall, prospects for farm earnings are relatively bright, although little change is expected in the industry's already strong balance sheet.

Suggested Citation

  • Alan Barkema & Mark Drabenstott, 1994. "Agriculture rides out the storm," Economic Review, Federal Reserve Bank of Kansas City, vol. 79(Q I), pages 29-43.
    • Handle: RePEc:fip:fedker:y:1994:i:qi:p:29-43:n:v.79no.1
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    File URL: https://www.kansascityfed.org/documents/1451/1994-Agriculture%20Rides%20Out%20the%20Storm.pdf
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    Cited by:

    1. Tim R. Smith, 1994. "The Tenth District economy: picking up the pace," Economic Review, Federal Reserve Bank of Kansas City, vol. 79(Q I), pages 45-58.

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    Keywords

    Agriculture; Agricultural prices;

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