Profits, costs and the the changing structure of dairy farming
By: James M. MacDonald ... [et al.].
Contributors: MacDonald, James M.; United States. Dept. of Agriculture. Economic Research Service.
Series: Economic research report -- no. 47.; Economic research report (United States. Dept. of Agriculture. Economic Research Service) -- no. 47.
Publisher: U.S. Dept. of Agriculture, Economic Research Service
Published: 2007
Place of publication: Washington, D.C
Language: eng
Number of pages: 35
Subjects: Dairy farming -- United States.; Dairy farming -- United States -- Cost of operation.; Milk trade -- United States -- Costs.
Description: U.S. dairy production is consolidating into fewer but larger farms. This report uses data from several USDA surveys to detail that consolidation and to analyze the financial drivers of consolidation. Specifically, larger farms realize lower production costs. Although small dairy farms realize higher revenue per hundredweight of milk sold, the cost advantages of larger size allow large farms to be profitable, on average, even while most small farms are unable to earn enough to replace their capital. Further survey evidence, as well as the financial data, suggest that consolidation is likely to continue.
Notes: Cover title.

"September 2007"

Also available on the World Wide Web.

Includes bibliographical references (p. 32-33).