Agricultural and Resource Economics Commons^™

Ambassador Clayton Yeutter United States Trade Representative April 20, 1987 The Shimoda Conference Oiso, Japan, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

I am grateful to the Shimoda Conference for inviting me to address the issue of U.S.-Japanese trade. This is an important event, coming at a time when trade between our two countries is playing a more significant role in our overall relations than ever before. In some ways , individual trade issues are threatening to overshadow our long relationship as friends and allies. This must not be allowed to happen. Japan and the united States have too much at stake to let transitory problems come between us. We are the world's two largest free economies. We work together effectively to …

Transcript Of Ambassador Yeutter's Speech To The Brookings Instition's "Conference O~ Building A Canadian-American Fta," February 3, 1987, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

MR. YEUTTER: Thank you, Bruce.- That was a very gracious introduction and much appreciated. I must say to you and your associates and colleagues here at Brookings that you are deserving of commendations and accolades for putting on this kind of program. It is an important issue, and I am very pleased that you and your institution have focused on it.

Chapter 12 Family Farmer Bankruptcy, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1987 Nebraska Law Review article surveys the 1980s farm financial crisis, reviews farm bankruptcy options prior to the 1986 Family Farmer Bankruptcy Act, and analyzes provisions of the chapter 12 family farmer bankruptcy legislation.

New Directions In Nebraska Water Policy, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1987 Nebraska Law Review article reviews (1) how federal environmental legislation has thwarted development of new surface water irrigation projects, (2) how Nebraska Supreme Court rulings on interbasin transfers of surface water sparked a race for irrigation project water rights, and (3) the enactment of historic Nebraska water policy legislation attempting to strike a balance between economic development and environmental protection regarding new surface water irrigation projects.

Protecting Public Values In The Platte River, Eric Pearson, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1987 Creighton Law Review article analyzes legal aspets of protecting public values in instream flows in the Platte River under Nebraska water law.

Nebraska Farm Real Estate Market Developments 1985-86, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

Results of the 1986 Nebraska farm real estate market survey indicate that farmland values continued to fall sharply during the past year as the current farm financial crisis persists. For the state, the average percentage decline from February 1, 1985 to February 1, 1986 was 24.7 percent. This drop in Nebraska land values of nearly 25 percent was even larger than the 23.5 percent decline reported a year ago. These percentage declines of the past two years now represent the largest decreases ever recorded in USDA's statistical series for Nebraska which dates back to 1912.

This downward trend in Nebraska …

Gatt Ministerial Meeting Punta Del Este, Uruguay, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

Mr. Chairman, fellow delegates, this week GATT faces an historic challenge. Our task is more difficult than any that has confronted world trade since the very creation of GATT in 1947. What we do in Punta del Este will determine whether GATT remains a functional, dynamic institution serving the interests of its members or declines into a static and passive association that is irrelevant to the needs of international trade.

Improving And Strengthening The Trade System, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

The successful launching of a comprehensive round of negotiations will be the single, most important event in international trade this year. I urge our communique contain a vigorous, unequivocal endorsement for launching a new round with a comprehensive agenda, in September. Delegations in Geneva will go over the text of our communique very carefully, and they will judge our determination by both the tone and substance of our statement. We therefore must clearly set forth our desire to begin the new round, without delay.

Economic Implications Of Diminishing Groundwater Supplies In The High Plains Region, Ray Supalla, F. Charles Lamphear, Glenn D. Schaible

Department of Agricultural Economics: Faculty Publications

The Ogallala Aquifer, which underlies a vast area reaching from Nebraska to Texas, is an important source of water for homes, industries and irrigation (Figure 1). Irrigation wells first started tapping the Ogallala in the "Dust Bowl" days of the 1930s, eventually turning 16 million acres of dry cropland and range into highly productive irrigated lands. Irrigation has changed High Plains agriculture from an uncertain and meager existence to a more certain and more viable economic enterprise. Moreover, the growth of irrigated agriculture has been the major force in the growth and development of many rural towns and communities in …

Nebraska Farm Real Estate Market Developments 1984-85, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

The market for farm real estate is complex and ever-changing. In addition to the uniqueness for each parcel of land, countless factors influence the nature of market participation between buyers and sellers, negotiated selling price, means of financing purchases, rate of ownership transfers, etc. Also, in the current economic environment these dynamic elements are even more pronounced.

The implications of these current trends are substantial. The level of returns to agricultural assets, the distribution of wealth and land ownership, the degree of farm financial stress and even economic survival -- all are woven into the market fabric for agricultural land. …

Ambassador Clayton Yeutter United States Trade Representative Foreign Correspondents Club Tokyo, Japan August 13, 1985, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

It's a pleasure to be here in Japan for my first major overseas trip since becoming U.S. Trade Representative on July 1. I have been hoping that my first major speech outside the United States would be in Japan. Thanks to the kind invitation of the Foreign Correspondents Club, that hope is now being realized.

Ambassador Clayton Yeutter United States Trade Representative Address To The World Economic Forum Geneva, Switzerland December 6, 1985, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

I'm very pleased that e World Economic Forum has provided me with my first opportunity to address a European audience since becoming the United states Trade Representative on July 1. As you know, I had hoped to be here sooner, in September, but had to cancel that trip when President Reagan decided to take some tough new trade actions on September 7.

Nebraska Farm Real Estate Market Developments In 1983-84, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

Farm real estate values across Nebraska continued to decline even further during 1983 and into 1984. Nebraska farmland values have now trended downward for more than three and one-half consecutive years. For the year ending February 1, 1984, farmland values decreased more than 8 percent. Moreover, a special mid-year survey for 1984 indicates that the average land values have declined another 8 percent since February 1. Continued financial problems in the farming sector have forced many owners to put their land on the market. Coupled with little demand among potential buyers, this increased number of land tracts offered for sale …

A Cross Sectional Analysis Of Agricultural Land Prices In Nebraska 1978-1982, Gordon L. Carriker, Charles E. Curtis, Bruce B. Johnson

Nebraska Farm Real Estate Reports

Land Value expectations are important to land owners, agricultural producers, lenders, governmental agencies, and other parties. Greater understanding of land values and the factors involved in their determination is therefore beneficial to the decision-making process.

The analysis of farmland values has been a major focus on the agricultural economics profession for several decades. Early research focused primarily on the measurement of the relationship of income levels to land values. In more recent years, econometric models have attempted to uncover additional economic factors which influence the value of farmland.

Econometric models have used many quantification techniques ranging from single-equation ordinary least …

"Stock Index Futures At The Merc", Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

GOOD MORNING AND THANK YOU FOR INVITING ME TO ADDRESS THIS GROUP. LAST YEAR, WHEN I TALKED TO YOU AT THE SCIA ANNUAL MEETING IN BURGENSTOCK, I TOLD YOU OF THE DYNAMIC GROWTH THE FUTURES INDUSTRY WAS UNDERGOING. I AM HAPPY TO REPORT THAT THAT GROWTH CONTINUED IN 1983. THE CHICAGO MERCANTILE EXCHANGE HAD ITS SEVENTH CONSECUTIVE RECORD-BREAKING YEAR, TOPPING 1982 TRADING VOLUME BY MORE THAN 13 PER CENT. SINCE 1972 WE HAVE SEEN OUR ANNUAL VOLUME GROW FROM 4.5 MILLION CONTRACTS TO 38.1 MILLION CONTRACTS--A TRULY PHENOMENAL RECORD!

The Outlook For U.S. Agriculture And Agribusiness, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

Not since the 1930s have I been as concerned for the short term future of American agriculture as I am now. Last year's net farm income is estimated at only about $15.5 billion. In the aggregate, and in real term, that is the lowest it has been in decades. Fortunately, on a per capita or per farm basis the numbers are less depressing and, fortunately, they will begin to trend upward again in 1984. But it looks as if export tonnages will decline for the fourth year in a row, and farm land values may also decline for the fourth …

Nebraska Farm Real Estate Market Developments In 1982-83, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

Farmland values in Nebraska continued to decline during 1982 On the average, values as of February 1, 1983 were about 11 percent below year-earlier levels. The continuation of a recession plagued farm economy and stiff monetary efforts to combat inflation definitely contributed to this land market weakness.

In nominal terms, current land values are comparable to 1979 levels. However, after adjusting for inflation, current values in real (purchasing power) dollar terms are basically equivalent to those of .the mid-1970's.

For most areas of the State and most types of land, land values "peaked" by 1981 after nearly a decade of …

Canadian & American Agriculture: Competitors? Cooperators? Or Both?, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

It is a pleasure for me to be in Toronto, for the first time ever. My wife and I honeymooned in Canada 30 years ago, so every return trip to your beautiful country is a nostalgic experience. With an 80 cent exchange rate, we really ought to come back for another honeymoon in June and stay the rest of the year! Marshall Loeb, one of our outstanding business journalists, delivered a speech a couple of years ago in which he predicted the winning nations in international economic competition for the next decade or two. His top category encompassed only five …

Nebraska Farm Real Estate Market Developments In 1981-82, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

Nebraska farm real estate values declined nearly 4 percent during the past year. The reasons are quite obvious -- low farm income, changing inflation expectations, and continued high interest rates. The combination of these fac­ tors has drastically altered what was a "bullish" land market up until 1980.

During the 1970's, farmland values were appreciating rapidly. The average increase was approximately twice the rate of inflation. The real value (purchasing power)of farmland doubled during this decade. Financial leveraging was extremely profitable for farmland investors and land prices were quickly bid up.

The past year represents quite a contrast. Adding an …

Ground Water Mining Law And Policy, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1982 University of Colorado Law Review article surveys western ground water management policies, reviews western state legislation for dealing with ground water problems in critical areas, and discusses ground water depletion policy choices.

Nebraska Farm Real Estate Market Developments In 1980-81, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

Farmland values have steadily appreciated over the past four decades, but the largest advances have occurred since 1971. During the last ten years, Nebraska farmland values have increased nearly twice as fast as inflation.

However, the past year ending February 1, 1981, was an exception. Farm­land in Nebraska appreciated about 10 percent, which was comparable to the overall rise in the General Price Level. So, in real terms (purchasing power), farmland values were essentially stable across the State during the last year.

Considerable variation in value trends across Nebraska was evident in the findings of the Department of Ag Economics …

How The Imm Can Help Banks, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

I am very pleased to be in San Francisco. This is such a delightful city that I sometimes wish I were President of a San Francisco Commodity Exchange. But that would not be fair to Chicago, a truly great city, or to the Chicago Mercantile Exchange, an outstanding business and financial institution. I hope all of you will become exposed to them both. You will like what you see. The times they are a changin! And changin fast, everywhere. I head an Exchange that is several decades old and steeped in agricultural tradition. We' were once called the Butter and …

Hedging Techniques For Agricultural Producers, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

I am delighted to be here today talking about hedging and how it can be applied to the marketing strategies of agricultural producers in agriculture. It is good to have so much interest developing at the marketing end of agriculture, because it seems do me that too much attention has long been paid to production and too little to marketing. Even in the United States, which has developed perhaps the most sophisticated marketing techniques in the world, farmers are still too production oriented. Futures markets, where hedging techniques can be applied the best, are more than 100 years old in …

Nebraska Farm Real Estate Market Developments In 1979-80, Bruce B. Johnson, Ronald J. Hanson

Nebraska Farm Real Estate Reports

The Department of Agricultural Economics conducted its third annual farm real estate market survey for 1979-80. Questionnaires were mailed in January, 1980 to nearly 500 survey reporters across Nebraska which included rural ap­praisers, real estate brokers, professional farm managers, and farm mortgage lenders.

These reporters estimated the average per acre value of farmland in their respective or surrounding counties as of February 1st for both 1979 and 1980 by the major land uses for that area. With exception of center pivot irrigated land in the Northwest Crop Reporting District, land values generally demonstrated strong gains during 1979 with the largest …

Nebraska Ground Water Law And Administration, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1980 Nebraska Law Review article surveys the historical development of Nebraska ground water law through 1980, details early natural resource district regulation of ground water depletion, and identifies unresolved issues in Nebraska ground water law and policy, suggesting possible solutions.

A Methodology For Measuring Potential Benefits From Drought-Oriented Research In Nebraska, Arlen Leholm, Raymond J. Supalla, Glen Vollmar

Department of Agricultural Economics: Faculty Publications

The growth in agricultural productivity and the significance of science and technology in contributing to this growth has been well documented by Bredahl, Cline, Evenson (1967), Griliches (1964), and Peterson. The results of these studies generally indicate that over the past several decades, investment in agricultural research has paid off with relatively high rates of return. Most of this previous work, however, has been directed at estimating returns to aggregate agricultural research in an ex post sense at the national level and does not address the question of potential future returns to research at a state or regional level (Norton). …

The National Water Policy Review And Western Water Rights Reform, J. David Aiken

Department of Agricultural Economics: Faculty Publications

This 1980 Nebraska Law Review article reviews the 1977 Carter water policy review program, and identifies existing features of western water legislation that would satisfy the Carter water policy review program criticisms of Western state water legislation.

Sale By Contract: Yes, No?, Lynn H. Lutgen

University of Nebraska-Lincoln Extension: Historical Materials

The use of cash contracts inmarketing cash

grain is fairlycommon among Nebraska producers,

In recent years the same type of contract has been used in m

marketing livestock, in some instances contracts are used to

defer actual delivery.for a short time until arrangements can

be made for transpofting the physical commodity to the buyer.

In others, the contract sale is made weeks or months before

production iscompleted, Some producers usecontracts asa

marketing tool year after year, but in most cases the contract

becomes part of the marketing plan when the producer feels it

is "appropriate."

Determination ofwhen contracting is appropriate …

Ground Water Mining And Western Water Rights Law: The Nebraska Experience, J. David Aiken, Raymond J. Supalla

Department of Agricultural Economics: Faculty Publications

This 1979 South Dakota Law Review articles reviews early natural resource district regulations under the Nebraska Ground Water Management Act.

World Food Supply And Demand: How The Two Can Be Linked, Clayton K. Yeutter

Clayton K. Yeutter, United States Secretary of Agriculture: Papers

It is a privilege and honor for me to make the concluding address of this excellent symposium on world agricultural trade. Ed Harshbarger and his colleagues at the Federal Reserve Bank of Kansas City are certainly to be complimented for assembling such a distinguished group of participants, as well as a most impressive audience. Hopefully, the discussions of the past two days will stimulate and enhance world agricultural trade over the next two decades or more.