Policy Documents

The New Farm Economy

Russell L. Lamb –
December 1, 2003
Click to read the full text of this document
481.83 KB

The U.S. farm economy has undergone profound changes in market organization.  A wave of consolidation has shifted a larger share of agricultural production to big, low-cost producers.  Moreover, new forms of ownership and control that link the farm more closely to the family dinner table are replacing commodity markets as the dominant characteristics of the farm ecnoomy.