Impacts of Recent Commodity Price Fluctuations on Farms in California and a Historical Perspective on Prospects for the Future
Sumner, Daniel A
As low-income consumers have suffered from high commodity prices, farmers have gained. Farm incomes were high in 2007 and are likely to be equally high in 2008. But high prices usually do not last. The extreme price spikes that occurred in the spring and summer of 2008 have dramatically fallen. We can learn from considering the past 150 years of price history and especially the episode of the 1970s.
food prices, farm incomes, commodity price fluctuations
Sumner, Daniel A. 2008. "Impacts of Recent Commodity Price Fluctuations on Farms in California and a Historical Perspective on Prospects for the Future." ARE Update 12(2): 5-6. University of California Giannini Foundation of Agricultural Economics.