The emergence of biofuels has led to an increase in crop price and subsequently global food prices but the extent of the impact is subject to debate. Fully understanding the role of biofuels on agricultural markets requires properly accounting for the response of all affected inputs and outputs....

The U.S. dairy industry has seen major restructuring in the last few decades. The number of U.S. dairy farms has declined significantly and the decline has been concentrated among smaller farms. In the meantime, average dairy herd size increased from 19 cows in 1970 to 175 in 2010 and milk yield...