# walsh.cottonprice: Acres and price of cotton 1910-1943 In agridat: Agricultural Datasets

## Description

Acres and price of cotton 1910-1943

## Format

A data frame with 34 observations on the following 9 variables.

`year`

year, numeric 1910-1943

`acres`

acres of cototn (1000s)

`cotton`

price per pound (cents) in previous year

`cottonseed`

price per ton (dollars) in previous year

`combined`

cotton price/pound + 1.857 x cottonseed price/pound (cents)

`index`

price index, 1911-1914=100

`adjcotton`

adjusted cotton price per pound (cents) in previous year

`adjcottonseed`

adjusted cottonseed price per ton (dollars) in previous year

`adjcombined`

## Details

The 'index' is a price index for all farm commodities.

## Source

R.M. Walsh (1944). Response to Price in Production of Cotton and Cottonseed, Journal of Farm Economics, 26, 359-372. http://doi.org/10.2307/1232237

## Examples

 ``` 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19``` ```data(walsh.cottonprice) dat <- walsh.cottonprice dat <- transform(dat, acres=acres/1000) # convert to million acres percentchg <- function(x){ # percent change from previous to current ix <- 2:(nrow(dat)) c(NA, (x[ix]-x[ix-1])/x[ix-1]) } # Compare percent change in acres with percent change in previous price # using constant dollars dat <- transform(dat, chga = percentchg(acres), chgp = percentchg(adjcombined)) with(dat, cor(chga, chgp, use='pair')) # .501 correlation require(lattice) xyplot(chga~chgp, dat, type=c('p','r'), main="walsh.cottonprice", xlab="Percent change in previous price", ylab="Percent change in acres") ```

agridat documentation built on May 2, 2019, 4:01 p.m.