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The U.S. Food & Fiber Industry

The U.S. Food & Fiber Industry. Linkages to the Farm Business Sector Spring 2010. The Farm Business Sector. Farm Business Sector. General Economic Influences. Farm Business Sector. General Economic Influences. Farm Business Sector. Impacts of Macro economic Policy. Interest rates

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The U.S. Food & Fiber Industry

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  1. The U.S. Food & Fiber Industry Linkages to the Farm Business Sector Spring 2010

  2. The Farm Business Sector Farm Business Sector

  3. General Economic Influences Farm Business Sector

  4. General Economic Influences Farm Business Sector

  5. Impacts of Macro economic Policy • Interest rates • Inflation • Economic growth • Unemployment • Budget deficits • National debt • Exchange rates • Trade balance

  6. General Economic Influences Farm Business Sector

  7. Impacts of International Trade • Comparative advantage • Trade deficit • Trade agreements • WTO rulings • Importance to agriculture • Energy related issues

  8. General Economic Influences Farm Business Sector

  9. Impacts of Domestic Economy • Consumer spending is 66-70% of GDP • Income affects the demand for food and fiber • Energy and and other prices • Population • Tastes and preferences

  10. Food And Fiber System Farm Business Sector

  11. Food And Fiber System Farm Business Sector

  12. Impacts of Farm Input Supply Sector • Source of new technology and productivity • Increased consolidation of suppliers • Price setters to farmers • Firms have become more diversified in recent years

  13. Food And Fiber System Farm Business Sector

  14. Food And Fiber System Farm Business Sector

  15. Impacts of Processing and Manufacturing Sector • Add value to raw farm products • Price setters to farmers • Contracts with farmers • Narrow profit margins • Compete for shelf space

  16. Food And Fiber System Farm Business Sector

  17. Food And Fiber System Farm Business Sector

  18. Impacts of Wholesale and Retail Trade • Interface with consumers • Price setters to consumers • Just in time inventories • Changing structure over time. • Food safety • Packaging trends

  19. Unique Policy Influences Farm Business Sector

  20. Unique Policy Influences Farm Business Sector

  21. Impacts of Farm Policy • Commodity policy sets rules for farm subsidies • Price and income important historically • Storage of surplus production

  22. Unique Policy Influences Farm Business Sector

  23. Unique Policy Influences Farm Business Sector

  24. Impacts of Environmental Policy • Conservation programs • Chemical application regulations • Water pollution • Air pollution • Global warming concerns

  25. Important Market Linkages Farm Business Sector

  26. Important Market Linkages Farm Business Sector

  27. Impacts of Farm Credit Markets • Indicators of financial stress • Cost and availability of farm operating and mortgage loans • Subsidized credit programs • Financial crisis in the 1980’s

  28. Important Market Linkages Farm Business Sector Farm Business Sector

  29. Important Market Linkages Farm Business Sector Farm Business Sector

  30. Impacts of Labor Markets • Cost and availability of hired farm labor • Importance of off-farm employment to farm operator families. • Impact on consumption

  31. Who is this man?

  32. His first days on the job back in 2006… He had little to smile about last year…

  33. What job stress will do to you …

  34. Let’s Get Started

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