Alternative crop exports, land use, production capacity, and programmed prices of U.S. agriculture for 1975

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1974-10-01
Authors
Heady, Earl
Thomas, Dennis
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Abstract

Under current markets, with U.S. farm production capacity freed from supply controls in 1974 but with full product vity held in check by the mid-summer drought, commodity and food prices are high. Hence, it is of interest to estimate what farm production could be in 1975 if land use were optimized in relation to alternative export levels. This study has been made accordingly. It is not an attempt to predict farmer response in land use and crop production in 1975. Instead, it analyzes production potential and programmed commodity price levels when land is allocated in the "best" manner among crops and by regions relative to a stated objective function.

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