News Filed Under Agricultural Economics
MISSISSIPPI STATE -- Mississippi farmers are plowing ahead optimistically into a new growing season as several commodities post life-of-contract highs on the market.
Many farmers still are reeling from the battles of 1995 which included tremendous insect control costs and a late summer drought.
By Bethany Waldrop Keiper
MISSISSIPPI STATE -- This year's planting intentions report yielded few surprises as producers based many acreage decisions on market prices.
Economists with the U.S. Department of Agriculture announced their 1996 crop predictions March 29. The biggest change for Mississippi is corn acreage, rising from 300,000 acres in '95 to 550,000 acres for 1996 -- an 83 percent increase.
STARKVILLE -- Cotton, rice and soybean growers have seen their August dreams turn into October nightmares as yield estimates have plunged in the wake of insects, heat and drought.
"In total economic impact, the state will not see about $900 million that cotton, rice and soybeans had the potential of making when the crops were evaluated in July," said DeWitt Caillavet, extension agricultural economist at Mississippi State University.
MISSISSIPPI STATE -- Depressed cattle prices are having a similar effect on producers. As prices reach their lowest levels since January 1987, most market watchers expect little relief until the national herd size starts decreasing around 1997.
Dr. Charlie Forrest, extension agricultural economist at Mississippi State University, said prices for the best 400 to 500 pound steers averaged in the low $70s per hundredweight during May. May 1995 prices are about 20 percent below year-ago figures.
MISSISSIPPI STATE -- Economists with the U.S. Department of Agriculture announced their crop predictions Friday in the planting intentions report, but Mother Nature and farmers will get the final word.
Dr. Alan Blaine, extension agronomist at Mississippi State University, said although there were no major surprises in the acreage estimates, actual plantings will hinge on the weather.
"Weather always influences crop acreages. Delayed plantings because of rain will force farmers to second choice crops with later planting dates," Blaine said.