Abstract
Identifying factors affecting farm performance has long been a topic of interest to agricultural economists, farm operators, and managers. This article uses financial records from grain farms in Illinois to define peer groups among which to make multi-year performance comparisons. Results suggest that high-performance farms achieve both higher revenues and lower costs. The majority of the gap between high- and average- performance farms is due to revenues, while cost advantages are more important in separating average- and low-returnfarms. Efficient input selection, including labor and capital, seems to account for a significant portion of the return gap among farms.
Original language | English (US) |
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Pages (from-to) | 108-114 |
Number of pages | 7 |
Journal | Journal of ASFMRA |
State | Published - 2019 |