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Abstract

New technology and dynamic changes characteristic of the dairy industry during this past decade can be expected to continue during at least the next few years. They occur so rapidly that producers and processors continuously are adapting their operations to new developments. Under such conditions, the industry has particular need of information regarding changes in milk production, consumption, and industry structure together with estimates of prices, costs, and available resources. The projections in this outline provide some of the information necessary for planning. These estimates essentially are extensions of present trends. They are based fundamentally on the assumptions that: (1) Current levels and methods of price support will be in operation through 1967; (2) the growth rate of the whole economy and the rate of technological development of the dairy industry will continue at about present rates. These projections are in no sense forecasts. They should be interpreted only as estimates which are necessarily tied closely to the above assumptions. Price levels and support programs for dairy prices are subject to substantial changes. Economic conditions may vary from the steady growth pattern inherent in these projections. They have been prepared at the request of the Federal Extension Service for use in discussing the dairy situation with farmers.

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