Show Future Of Farming I Over the pa past t quarter quarter-cen- tury we have been watching closely the revolutionary r evol u tlona ry changes that have taken place on the nations nation's farms Machines have been replacing men at an explosive rate and now US U.S. agriculture is a huge modern industry It is in fact our largest largest larg- larg est industry providing Income of 14 billion in 1965 1 1 billion over nv HH 1964 W We think n this income farm growth is going go- go lag ing to continue FEWER BIGGER AND RICHER While the small general general- purpose farms have been fading out the streamlined type of modern family operation has been moving t triumphantly r i u m p h a n tl y ahead Naturally this kind of farming takes plenty of outlay for mechanization and far greater technical skill But where the management is competent competent com com- and well informed the profits more than make up for forthe forthe the costs of machinery and the study required to develop more advanced technical know Over the past five years net income per upward up- up ward 40 to a new time newall-time time all height of Perhaps even more significant is the fad that in the same period per capita income of farmers has advanced 35 while income for the remainder remainder re- re of the population has risen only 20 Farm labor costs have of course been drifting downward for years because of agricultural agricultural tural mechanization and acreage acreage acre acre- age has been climbing steadily for the individual farms These latter trends are bound to con con- STRONG SUPPORTS There have been many related related re- re reasons for the healthier demand for agricultural products products prod prod- and for rising profits The most elementary but important cause is the enormously broader broad broad- er spending for foods of all sorts due to large Increases in population soaring income and richer eating hab- hab its Exports of farm produce have been on the upward path for a long while Markets have been particularly particularly well sustained in the countries countries coun- coun tries of Western Europe inJa- inJa pan and in many other free freena- freena na- na Higher living standards in such places favor continuing brisk demand for our agricultural tural exports for an indefinite I period As long as our own people are adequately supplied with native foodstuffs there will continue to be heavy shipments to needy nations that lack suf c cI i e n t growing operations of their own This entire export situation along with the governments government's cutting back of our planting acreage over the years and our own booming markets has succeeded succeeded suc- suc in bringing surpluses down to manageable levels Since supplies over always mean downward pressure on prices present conditions are more conducive to good returns for farmers Income per farm will of course be steadily greater as the number of farms dwindles and the greater prosperity pros pros- is divided among fewer establishments i I I I I HARVESTS COULD BE GREATLY INCREASED In spite of the phasing out of 01 great numbers of marginal farms the strong nucleus of larger units that are left could dramatically step up agricultural agricultural tural production Total harvests during 1965 smashed all previous pre pre- records Experts feel that even these highs could be upped some 20 in a couple of years if federal acreage controls were done away with Some interested parties par par- ties are suggesting that 55 million million mil mil- I lion idle crop acres be replant replant- I I ed especially in view of the I I number of countries wh where ere I starvation actually threatens What would be the effect of sudden removal of acreage restrictions restrictions re- re Prices would tend to fall unless demand could be kept in line with outturn ince world markets are a strong part of the key success for American American Ameri- Ameri can farmers exports would have to be maintained and even increased if price softening softening soft soft- ening were to be prevented However VIe we feel that under under un- un der present conditions and with this dire world need there may be dangers dangers' of shortages at least in some grains and other basic farm products Certainly if underdeveloped customer customer- cus to me r- r countrIes on a wide scale could be brought up to the economic level of Canada or Japan our farmers could whistle a happy tune for a long time |