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 1. Population
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29. Outlying Areas
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Statistics
31. Industrial Outlook
32. 1997 Economic Census
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1115. Value of Selected Commodities Produced Under Contracts
[59,826 represents $59,826,000,000.Marketing contracts refer to verbal or written agreements between abuyer--generally a food processing and/or marketing company--and a grower
that set aprice (or pricing mechanism) and determine an outlet for a specified quantityof a commodity before harvest or before the farmer markets the commodity. Production contracts
involve paying the farmer a fee for providing management,labor, facilities, and equipment, while assigning ownership of the product tothe contractor. The contract specifies in detail
the production inputssupplied by the contractor, which may be a processor, feed mill, or anotherfarm operation or business. The contract also specifies the quality andquantity of the
particular commodity. Survey based estimates (see source) exclude Alaska and Hawaii and do not representofficial U.S. Dept. of Agriculture estimates of farm sector activity]
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1997
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1998
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Value of
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Value of
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production
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Percent
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production
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Percent
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Commodity
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under
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of
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under
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of
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contract
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total
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contract
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total
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(mil. dol.)
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production 1
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(mil. dol.)
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production 1
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Total
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59,826
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2
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31
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67,090
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2
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35
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Marketing contracts 3
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41,610
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2
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22
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39,878
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2
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21
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Cattle
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2,735
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9
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1,472
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5
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Corn
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1,720
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8
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2,385
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13
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Cotton
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1,923
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33
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2,031
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51
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Fruits
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7,199
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59
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5,605
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55
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Soybeans
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1,672
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9
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2,078
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12
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Sugar beets
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973
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82
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984
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76
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Vegetables
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3,374
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24
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3,939
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36
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Production contracts 3
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18,215
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2
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10
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27,212
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2
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14
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Poultry and eggs 4
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6,664
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99
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15,051
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88
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Cattle
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4,280
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14
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6,406
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21
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Hogs
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3,097
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33
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3,437
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40
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Vegetables
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1,145
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8
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