East Central South Dakota | nature of the beast. Manufacturing can lay off a line or slow the line speed in a day to match supplies up with demand------speed boat industries.
Agriculture takes a season or two of planting and some would argue some seasons of financial hurt to discourage production---ocean freighter industry.
You can turn around a speed boat a lot faster than you can turn around an ocean freighter.
Farmers urge to plant is as strong as waterfowl's urge to migrate. Decades of farm bills that tied payments to planting also maybe ? ? ?
Who decides who and what area's cut back or increase production ? ? Pretty sure if 5 farmers were in a sinking boat and they all had to reach consensus on a survival plan to live--------------------------they all would drown and die.
Price does the job, I believe, it just takes some time and hurt to get the message through a lot of thick skulls..... it is a fascinating subject though.
Plus, just as the ship is trying to turn around and change course, WEATHER, throws a big wave at you that changes everything-----2015 for example.
EDIT----after re-reading your post you were talking mainly demand. Sorry, I always think and assume the discussion of the inelasticity of commodities as supply, demand and price. I see where you were going with just demand, which has its own merits.
Edited by white shadow 7/1/2015 23:09
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the inelastic demand curve of corn
