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2012 drought in Colorado: estimates of foregone revenues, indirect and induced economic activity for the crop sector

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dc.contributor.authorGoemans, Christopher, author
dc.contributor.authorPritchett, James, author
dc.contributor.authorNelson, Ron, author
dc.contributor.authorColorado State University, Department of Agricultural and Resource Economics, publisher
dc.coverage.spatialColorado
dc.date.accessioned2007-01-03T05:35:56Z
dc.date.available2007-01-03T05:35:56Z
dc.date.issued2013-08
dc.descriptionAugust 2013.
dc.description.abstractPrecipitation, whether realized as rain showers during the growing season or stored as snowmelt in reservoirs, is critical for crop and pasture production in Colorado. Drought is the persistent absence of precipitation, and this lack of moisture results in reduced yields, fewer harvested acres and less forage for livestock. Since October of 2010, extreme drought has plagued agricultural producers throughout much of Southern Colorado, and in May of 2012 the drought advanced to encompass the entire state. Agriculture is absorbing faced with economic hardship and drought impacts statewide. The primary objective of this research is to describe and quantify the broader economic impacts of the drought on agricultural productivity and allied economic activity in Colorado. The scope of the analysis takes three forms: a description of agricultural production and prices received for important Colorado crops; calculation of actual 2012 crop revenues juxtaposed against what might have been received if harvested acres and yields were consistent with historical averages; and a broader estimate of the drought's economic impact by accounting for reduced input purchases and wages spent locally.
dc.format.mediumborn digital
dc.format.mediumreports
dc.identifier.urihttp://hdl.handle.net/10217/79410
dc.languageEnglish
dc.language.isoeng
dc.publisherColorado State University. Libraries
dc.relation.ispartofProduction and Farm Management
dc.relation.ispartofProduction and farm management report (Colorado State University. Dept. of Agricultural and Resource Economics), PFMR 13-03
dc.rightsCopyright and other restrictions may apply. User is responsible for compliance with all applicable laws. For information about copyright law, please see https://libguides.colostate.edu/copyright.
dc.subjectdrought impact
dc.subjectyields
dc.subjectcrops
dc.subjectrevenue
dc.subjectColorado
dc.title2012 drought in Colorado: estimates of foregone revenues, indirect and induced economic activity for the crop sector
dc.typeText

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2012 drought in Colorado : estimates of foregone revenues, indirect and induced economic activity for the crop sector
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