Farm Size and the Capital Acquisition Problem on New Hampshire Dairy Farms (Classic Reprint) - Tapa blanda

Sinopsis

Excerpt from Farm Size and the Capital Acquisition Problem on New Hampshire Dairy Farms

The broad objective of this study is to explore and, as far as possi ble, determine the effect of farm size on the ability of farm operators to build up equity in farm capital. The problem is analyzed by use of representative dairy farms whose organizations are based on a survey of actual farms. This analysis is supplemented by a report of how dairy farmers actually obtained their initial and subsequent capital.

The general relationship between herd size and capital investment is positive. For the farms analyzed, total capital ranged from at 10 animal units to at 90 animal units. There was a great overlap in herd sizes between the one two and three-man farms. As between the one and two-man farms, total capital at each herd size was not greatly affected by size of labor force. Total capital per ani mal unit falls rather sharply until a size of about 30 animal units is reached. It then raises as herd size increases. This suggests some dis economies of scale. Equipment capital, through most of the herd size range, on the two-man farms is higher per animal uni-t than on the one-man farms. This suggests some tendency to equip men. There was no evidence of capital-labor substitution.

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