High Yields, Low Prices, and High Government Payments

dc.contributor.author Hart, Chad
dc.contributor.author Hart, Chad
dc.contributor.department Center for Agricultural and Rural Development
dc.date 2018-02-16T19:35:55.000
dc.date.accessioned 2020-06-30T04:53:09Z
dc.date.available 2020-06-30T04:53:09Z
dc.date.embargo 2015-07-21
dc.date.issued 2015-07-21
dc.description.abstract <p>The 2004 and 2005 crop years have set the high-water marks for national net farm income. In 2004, U.S. net farm income rose to $82.5 billion. And were it not for 2004, 2005 would have set a record for national net farm income at $71.5 billion. Even if we remove government support from the net farm income calculation, the 2004 and 2005 farm income levels are the highest ever recorded. In fact, since 2002, the U.S. agricultural economy has been on a tear, with net farm income, cash receipts, and values of production all being much stronger than we have seen historically. However, at the same time, government support to agriculture has also increased to near record levels. As Figure 1 shows, if USDA projections for 2005 hold, government support for agriculture will be $22.7 billion in 2005, which would be slightly below the record of $22.9 billion set in 2000. While the value of agricultural production has risen signifi - cantly over the last several years, the value of government farm payments has maintained a high level.</p>
dc.identifier archive/lib.dr.iastate.edu/iowaagreview/vol12/iss1/6/
dc.identifier.articleid 1085
dc.identifier.contextkey 7352704
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath iowaagreview/vol12/iss1/6
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/45155
dc.source.bitstream archive/lib.dr.iastate.edu/iowaagreview/vol12/iss1/6/IAR_v12n1_006.pdf|||Sat Jan 15 01:07:39 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Economic Policy
dc.subject.disciplines Public Economics
dc.title High Yields, Low Prices, and High Government Payments
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isJournalIssueOfPublication 20c25183-77cb-4dcc-b43d-1005571072ff
relation.isOrgUnitOfPublication 1a6be5f1-4f64-4e48-bb66-03bbcc25c76d
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