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Excess Capacity in U.S. Agriculture: An Economic Approach to Measurement

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  • Dvoskin, Dan

Abstract

This report measures excess capacity in U.S. agriculture, which is defined as the difference between potential supply of farm output (actual production plus potential output from acreage reduction programs) and commercial demand (total use adjusted for noncommercial exports) at prevailing prices. The study method enables analysts to assess and estimate excess capacity since 1940. Excess agricultural capacity has been increasing since 1979. The value of excess capacity in 1986 ($12.5 billion) exceeded the previous peak in the sixties, the result of greater agricultural output and a sharp decline in agricultural exports after 1981.

Suggested Citation

  • Dvoskin, Dan, 1988. "Excess Capacity in U.S. Agriculture: An Economic Approach to Measurement," Agricultural Economic Reports 308036, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:308036
    DOI: 10.22004/ag.econ.308036
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    References listed on IDEAS

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    1. G. E. Brandow, 1974. "American Agriculture's Capacity to Meet Future Demands," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(5), pages 1093-1102.
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    3. Weisgerber, P., 1969. "Productivity of Diverted Cropland," Miscellaneous Publications 321941, United States Department of Agriculture, Economic Research Service.
    4. Ericksen, Milton, 1976. "Use of Land Reserves to Control Agricultural Production," Miscellaneous Publications 329880, United States Department of Agriculture, Economic Research Service.
    5. Brandow, G.E., 1974. "American Agriculture'S Capacity To Meet Future Demands," 1974 Annual Meeting, August 18-21, College Station, Texas 284555, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Chung J. Yeh & C. Leroy Quance & Luther G. Tweeten, 1977. "U.S. Agricultural Production Capacity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(1), pages 37-48.
    7. Spielmann, Heinz, 1977. "Capacity Measurement In The U.S. Agricultural And Nonagricultural Sectors: A Literature Review," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 29(2), pages 1-10, April.
    8. Cotner, M. L. & Skold, M. D. & Krause, O., 1975. "Farmland: Will There Be Enough?," Miscellaneous Publications 327291, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Goetz, Stephan J., 1993. "On the Existence of Stable Equilibria in Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 25(1), pages 208-216, July.
    2. Gale, H. Frederick, Jr., 1990. "Econometric Analysis Of Farmer Participation In The Dairy Termination Program In North Carolina And Virginia," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-9, July.
    3. Johnson, D. Gale, 1988. "Target Prices in the United States: A Reform that Failed the Political Test," 1988 Conference, August 24-31, 1988, Buenos Aires, Argentina 183139, International Association of Agricultural Economists.
    4. Zulauf, Carl, . "An Evolving Path to Declining US Crop Acres," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 11(131).
    5. Makki, Shiva S. & Thraen, Cameron S. & Tweeten, Luther G., 1999. "Returns to American Agricultural Research: Results from a Cointegration Model," Journal of Policy Modeling, Elsevier, vol. 21(2), pages 185-211, March.

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