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Costs of Producing Milk, 1975-84

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  • Betts, Carolyn

Abstract

Costs of producing milk rose 53 percent in 1975-84 to $13.57 per hundredweight (cwt). Cash (out-of-pocket) costs rose 56 percent to $10.64 per cwt. Cash receipts, measuring gross production value, peaked in 1981 at $14.94 per cwt compared with $9.23 in 1975. Production costs in the Pacific region were more than $1 per cwt lower than costs in other regions every year during 1975-84. Appalachia and the Corn Belt had the highest costs. In 1983, the Economic Research Service (ERS) revised its cost-of-production estimating procedures and cost-and-return budget formats to incorporate new concepts and methodologies. This report describes those revisions and re-estimates milk production costs for 1975-80 using the new methods and formats to provide comparable estimates for 1975-84.

Suggested Citation

  • Betts, Carolyn, 1987. "Costs of Producing Milk, 1975-84," Agricultural Economic Reports 308027, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:308027
    DOI: 10.22004/ag.econ.308027
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    References listed on IDEAS

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    1. Harrington, David H., 1983. "Costs and Returns: Economic and Accounting Concepts," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(4), pages 1-8, October.
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    Cited by:

    1. Ronald D. Knutson & Robert Romain & David P. Anderson & James W. Richardson, 1997. "Farm-Level Consequences of Canadian and U.S. Dairy Policies," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 45(4), pages 421-432, December.
    2. McDowell, Howard & Fleming, Ann M. & Fallert, Richard F., 1988. "Federal Milk Marketing Orders: An Analysis of Alternative Policies," Agricultural Economic Reports 308061, United States Department of Agriculture, Economic Research Service.

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