234 research outputs found
THE ECONOMIC IMPORTANCE OF CROP ROTATION SYSTEMS: EVIDENCE FROM THE LITERATURE
Get PDFAgricultural sustainability requires that the individual farm firm be competitive and profitable while simultaneously enhancing environmental quality and the natural resource base upon which the farm firm and agricultural economy depends. The reliance of conventional agriculture systems on purchased inputs external to the firm presents possible challenges to the long-term sustainability of the system. Crop rotation systems are one cropping system alternative that can reduce agriculture's dependence on external inputs through internal nutrient recycling, maintenance of the long-term productivity of the land, and breaking weed and disease cycles. Decision criteria to choose among competing crop rotation systems can include impact on soil quality and fertility, environmental quality, and farm profitability. However, most of the comparative economic analysis work reviewed for this paper considered only farm profitability as a criterion to rank alternative crop rotation systems. Most rotation research is focused around a target crop that is the foundation for the crop rotation system. When corn is the target crop, comparative profitability performance of continuous corn vs. corn grown in rotation showed that neither system is consistently more profitable than another. Corn yield in Michigan does respond favorably to crop diversity. Wheat as the target crop in rotation tends to outperform continuous wheat both in terms of profitability and income risk. Sugar beet prices hold the key in determining the profitability ranking of alternative sugar beet-based crop rotations. Potato in rotations tends to outperform continuous potato both in terms of yield and profitability. Future studies addressing the economic performance of crop rotations need to consider the environmental benefits/costs both on and off the farm site that accrue to society. Keywords: Agricultural sustainability, external inputs, soil quality and fertility, environmental quality, crop rotations, comparative economic analysis, farm profitability.Agricultural sustainability, external inputs, soil quality and fertility, environmental quality, crop rotations, comparative economic analysis, farm profitability., Crop Production/Industries,
COMPLETING FINAN & NET WORTH STATEMENTS SOME ISSUES
Get PDFWe welcome all Michigan State University Extension (MSU-E) agents embarking upon a journey to improve the accuracy and usefulness of Michigan farm record data. We believe that analysis of accurate farm records will enable the farm owner/operator(s) to use his/her (their) farm records as a diagnostic tool that in turn can provide a benchmark for planning. We do recognize that this activity requires a time commitment from the MSU-E agent and also a willingness to bear some responsibility in improving the accuracy and consistency of the farm record database. It is to this problem of farm record consistency that this paper is addressed.Agricultural Finance,
CONTRACT FINISHING FOR NEW ENTRANTS IN PORK PRODUCTION
Get PDFThe pork production industry is a far different industry today than it was fifty, twenty, or even five years ago. On diversified Midwestern farms during the mid-to-late 20th century, the swine enterprise was labeled "the mortgage lifter". The hogs added value to home-produced feedstuffs such as corn and increased the income from a given acreage base. As farm mechanization and technology rapidly developed, farms became larger and less diversified as livestock disappeared from many farmsteads. In this paper, we address the question whether swine units can be introduced to non-livestock farms via a coordinated agreement for the grower-finisher phase and make these farms more profitable. To do this, we first describe some of the changes that have taken place in the pork industry. Second, production contracts and grower payments are introduced. Next, we move on to issues of manure management and the value of manure to non-livestock farms. Finally, in the Appendix, financial analyses for sample contract finishing contracts are laid out to help farmers determine if contract finishing could benefit their farming operations.Livestock Production/Industries,
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