摘要：This report is a baseline reference for New Mexico’s agricultural sector with respect to cash receipts, value of production, and major commodities. Annual cash receipts and value of production are converted from nominal monetary values to constant dollar values.1 Inflation in the general price level produces nominal price changes that do not reflect changes in the real value of goods and services in the economy. To remove changes associated with inflation, the value of the commodities covered in this report are adjusted to a common base period (1990) using the consumer price index2 (CPI) (appendix A). Adjusting cash receipts to a common base period removes the variation in cash receipts between time periods that may be due to price differences associated with changes in the nominal value of the dollar. Adjusted values allow the identification of monetary values that have increased or decreased in real terms. Although conversion to a common base period does not take into account changes in production due to technology, a comparison of the constant dollar values between the two periods provides a measure of whether producers’ real incomes have increased or decreased. For commodities with decreases in production, there also may be a decrease in the cost of production. In these cases, cost decreases could partially offset decreases in profits associated with lower quantities.
