Production and marketing contracts govern 36 percent of the value of U.S. agricultural production, up from 12 percent in 1969. Contracts are now the primary method of handling sales of many livestock commodities, including milk, hogs, and broilers, and of major crops such as sugar beets, fruit,...

Production and marketing contracts govern 36 percent of the value of U.S. agricultural production, up from 12 percent in 1969. Contracts are now the primary method of handling sales of many livestock commodities, including milk, hogs, and broilers, and of major crops such as sugar beets, fruit,...

The ongoing industrialization of US agriculture features striking changes in the organization of markets and firms, including a noticeable movement toward larger firms and greater product differentiation among both farms and processors, as well as shifts away from the use of spot markets to...