Word: farmers
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...acre last February; prime Midwestern corn and soybean land sells for $2,000 an acre. A tractor that sold for $16,000 in 1974 may cost almost twice as much now; it would have a few new features, but be no more powerful. The result is that farmers have been forced into financing decisions as intricate as those facing corporate treasurers. Borrowing money at interest rates of up to 12% to buy or rent additional land and invest in machinery can improve a farm's productivity and profits?or it can ruin a farmer who expands too fast while crop...
...result: instead of selling all their crops at harvest time, as they did for centuries (indeed, millenniums), farmers now spread sales all through the year. That forces them to face tricky questions: Will wheat or corn or soybean prices be higher next March than now, and if so will they be enough higher to justify storing 80% of the crop until then, or only 60% of it? To complicate matters further, a farmer can work out deals to sell part of his crop in October, say, but get the cash next January if that would be better for tax purposes...
...successful farmer today must understand enough engineering and science to participate in a technological upheaval that is changing the very shape of the land and the nature of his crops. Says Lawrence Rappaport, chairman of the department of vegetable crops at the University of California at Davis: "Agriculture is now in perpetual revolution, and there is no end in sight." People flying over the West and Midwest see an unusual pattern on the terrain below: not the familiar farm land with checkerboard squares, but large polka dots, the result of costly ($50,000 each) center-pivot irrigation machines that automatically...
Because of the technological revolution, one farmer in the U.S. now feeds 59 people. Elsewhere, the ratio of total population to the number of farmers and farm laborers is 19.2 in Western Europe, 13.7 in Japan, a mere 10 in the Soviet Union. U.S. agriculture feeds people well and cheaply too. The average American intake of more than 3,000 calories per day is among the highest in the world, and though citizens of some other nations match the U.S. in calories, probably none do in variety of diet...
...home, the necessity for the successful farmer to become a financier-salesman-engineer-scientist has accelerated a rural social revolution. Former Secretary of Agriculture Earl Butz vigorously preached the virtues of large-scale efficient farming, a message often translated in the croplands into five blunt words: Get big or get out. The decline in U.S. farm population that has been under way at least since 1910 has speeded up in recent years. By April 1977, only 1 of every 28 Americans lived on a farm, vs. 1 in 21 in 1970 and 1 in 3 early in the century...