Industry Analysis & Industry Trends
Over the past five years, the Hay and Crop Farming industry has grown despite volatile crop prices and unexpected weather patterns that plagued the industry over the period. Moreover, the industry is projected to continue to grow, albeit at a slower pace. Demand for hay will increase as cattle farmers switch to hay for cattle feed, while organic hay continues to become increasingly popular as consumers opt for organic beef. In addition, consumer preferences will dictate growth in the sugar beet segment as soda and snack manufacturers opt for processed sugar over high-fructose corn syrup... purchase to read more
Industry Report - Industry Investment Chapter
Overall, the level of capital intensity in the Hay and Crop Farming industry is low. Advanced technology, such as balers in the hay segment and remote sensing systems in the sugar beet segment, has kept capital intensity stable. The opportunity cost is added into this ratio because IBISWorld measures the labor intensity relative to capital intensity. Because most labor is unpaid, the opportunity cost must be used to represent family workers.
The widespread use of labor-saving techniques means that labor is almost exclusively employed to operate heavy machinery such as tractors and balers. Moreover, the emergence of agricultural service providers is reducing the number of people directly employed by the industry... purchase to read more