Recent Structural Change in the U.S. Farm Sector: A Household Income Equivalency Perspective

Structural change in the U.S. farm sector remains a source of continuing national interest. This interest has been heightened recently by concern over vertical integration and the passage of a new farm bill. Structural change is commonly examined in terms of the scale of the farm, such as the dollar value of sales or the number of acres farmed. However, to many farmers and non-farmers, structural change is not about physical or financial scale, but about the ability of the farm to provide an acceptable standard of living relative to other Americans. In this article, we use a household income equivalency perspective to examine recent changes in farm structure. The picture which emerges differs from the conventionally accepted story in several respects

The Vermont Broadside Collection: No Longer Hidden

The Wilbur Collection of Vermontiana contains hundreds of unique broadsides that document community activities and concerns from the 1770s through the 20th century. Until recently, only a very small percentage of the rich broadside collection was catalogued. Two years ago, Special Collections and the Resource Description and Analysis departments joined forces to make all of the Vermont broadsides accessible to researchers. This poster session will describe the collaborative effort and share some newly accessible examples from the collection

UPDATING CORN PROGRAM PAYMENT YIELDS: ARE FARM OPERATORS DIFFERENTIALLY AFFECTED?

Crop yields which determine farm income deficiency payments have been frozen at 1981-1985 levels since 1986. Data from a longitudinal survey of Ohio farm operators are analyzed to evaluate whether updating payment yields will differentially affect farm operators. Results of the analysis imply that farm operators who operate larger farms, live in counties with higher yields, and have higher fertilizer and pesticide expenses per acre of corn will benefit more. In addition, low (high) existing payment yields are understated (overstated) relative to updated payment yields.Agricultural Finance,

Unexpected Economic Loss from Yield Variation and Federal Crop Insurance

Multiple Peril Crop Insurance (MPCl) and GroupRisk Plan (GRP) use yield (i.e., physical) loss to determine who collects. However, insurance is bought to protect against economic loss resulting from physical loss. This study analyzes unexpected economic loss resulting from yield variation. It also compares unexpected economic loss with simulated MPCI and GRP collections for a sample of Ohio farm operators, Analysis reveals: (I) GRP's payout structure is further removed from unexpected economic loss than MPCrs, (2) MPCI collections exceed the associated unexpected economic loss in a free market, and (3) MPCI collections more closely match unexpected loss when farm programs exist