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Midwestern Corn Farms Economic Status and the Potential for Large and Family-Sized Units

Author

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  • Krause, Kenneth R.
  • Kyle, Leonard R.

Abstract

Buying and selling advantages are greater than internal economies for large versus family-sized Midwestern corn farms. Rates of return on investment both before and after income tax costs are considered are greater for the large operations because of (1) economies of size, (2) use of financial leverage, and (3) activities, such as those of purchase and sales agents, that enhance buying and selling advantages. Large units produce a small percentage of total U.S. com. Family-sized units will probably be the most important units in Midwestern com production for some time because of their present large number and the difficulty of establishing new large units. Most of the large units of the future will probably evolve from present family-sized units with aggressive growth strategies.

Suggested Citation

  • Krause, Kenneth R. & Kyle, Leonard R., 1971. "Midwestern Corn Farms Economic Status and the Potential for Large and Family-Sized Units," Agricultural Economic Reports 307448, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:307448
    DOI: 10.22004/ag.econ.307448
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    References listed on IDEAS

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    1. Nikolitch, Radoje, 1970. "Our 31,000 Largest Farms," Agricultural Economic Reports 307398, United States Department of Agriculture, Economic Research Service.
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    Citations

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    Cited by:

    1. Knutson, Ronald D., 1979. "The structure of agriculture: An evaluation of conventional wisdom," Agricultural Outlook Forum Archive 1923 - 1997 325902, United States Department of Agriculture, Agricultural Outlook Forum.
    2. Rhodes, V. James, 1973. "Role Of Marketing And Procurement Systems In The Control Of Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 5(2), pages 1-6, December.
    3. Knutson, Ronald D. & Smith, Edward G. & Richardson, James W. & Shirley, Christina, 0. "Maximizing Efficiency In Agriculture," Increasing Understanding of Public Problems and Policies, Farm Foundation.
    4. Lanier, Eleanor B., 1974. "Economics of Agriculture: Reports and Publications Issued or Sponsored by USDA's Economic Research Service, July 1971-June 1972," Miscellaneous Publications 321804, United States Department of Agriculture, Economic Research Service.
    5. Schneeberger, K.C. & West, J.G. & Hartman, J. & Osburn, D.D., 1974. "Expanding Agricultural Production: The Small Farmer Case," WAEA/ WFEA Conference Archive (1929-1995) 323786, Western Agricultural Economics Association.
    6. Knutson, Ronald D. & Richardson, James W. & Smith, Edward G. & Rister, M. Edward & Grant, Warren R. & Lippke, Lawrence A. & Israelsen, Craig L., 2002. "Economic Impacts of Farm Program Payment Limits," Working Papers 42717, Texas A&M University, Agricultural and Food Policy Center.
    7. Johnson, Roger G. & Hvinden, Steven C., 1978. "Labor And Management Components In Economies Of Farm Size Studies," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(2), pages 1-6, December.
    8. Carl R. Zulauf & Kevin King, 1985. "Input purchasing advantages associated with farm size," Agribusiness, John Wiley & Sons, Ltd., vol. 1(1), pages 45-52.
    9. Boehlje, Michael, 1973. "The Entry-Growth-Exit Processes In Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 5(1), pages 1-14, July.

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