In 1950 in the US a farm family was more likely to own an automobile
than a tractor.
Farmers with the literal "mule and 40 acres" couldn't afford or borrow
enough money to buy much of the farm equipment. I may be wrong, but it
seems to me that entities like Agway and Central Tractor (I grew up in
PA) rented out farm equipment. Before this it might be the wealthy
farmers who owned and then rented out surplus equipment.
>From 1950 to 1980, the US kept on increasing its agricultural
surpluses, with very few setbacks along the way. In the 1970s even
cheaper food--at huge government expense--was government-engineered
under Nixon. One idea was that the US could balance trade (out of
balance because of high oil prices) by exporting wheat, corn and soy
to much of the rest of the world--that is what the Republicans went to
China for (they already had the Japan market locked up). The 1970s was
also the time government turned to the idea of using the corn
surpluses to produce fuel--I remember my shitty Ford Maverick
sputtering along even worse on 10% gasohol.

Japan' s agricultural production peaked around 1960 and went into
steady decline--much of it desired by the US, which wanted to export
more and more corn and soy to the country. Japan proceeded, however,
to US-style subsidize a huge rice surplus. It would often buy huge
amounts of corn and soy to feed to animals and force Japanese to buy
the rice. It would also rather destroy the rice than give it away to
countries that needed it (like N. Korea).

http://www.agclassroom.org/gan/timeline/1950.htm

950
Large agricultural surpluses
        

1950
Total population: 151,132,000; farm population: 25,058,000; farmers
12.2% of labor force; Number of farms: 5,388,000; average acres: 216;
irrigated acres: 25,634,869
1956
Legislation provides for Great Plains Conservation Program






        
1950-59
Commercial fertilizer use: 22,340,666 tons/year
1950
One farmer supplies 15.5 persons (est.)
1954
Number of tractors on farms exceeds the number horses and mules for
the first time
1955
6 1/2 labor-hours required to produce 100 pounds (4 acres) of wheat
with tractor, 10- foot plow, 12-foot row weeder, harrow, 14-foot
drill, self-propelled combine and trucks.
Late 1950s
Anhydrous ammonia increasingly used as cheap source of nitrogen, boosting yields
1959
Mechanical tomato harvester developed
        




 1955s
 Sterile flies used for screwworm control
        



1950s
Trucks and barges compete successfully for agricultural products as
railroad rates rise
1956
Interstate Highway Act



        


1950-59
Agricultural exports: $3.53 billion/year or 22% of total exports
1954
Agricultural Trade Development and Assistance Act (Food for Peace)
        

1950s
Television widely accepted; many rural areas lose population as farm
family members seek outside work
1954
70.9% of all farms have cars; 49% have phones; 93% have
electricity;Social Security coverage extended to farm operators





        



1950s
10,051 cooperatives with 7 million members
1955
National Farmers Organization formed





        




 1958
 National Defense Education Act
        
1950s
Debate about level of farm price support and surpluses
1954
Agricultural Act re-establishes flexible price supports, authorizes
commodity set-asides, and provides support payment for wool
1955-72
Increased emphasis on rural development and renewal
1956
Soil Bank Program authorized
1957
Poultry Inspection Act
1958
Humane Slaughter Act

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