The share of household income spent on food is an indicator of national wellness and food security. In 1857, economist Ernst Engel posited that as incomes rise, households tend to spend a smaller percentage of their total income on food -- both at home and away from home. At the same time though, the total amount spent on food increases.
Engel’s Law remains a consistent framework for looking at the broader implications of food expenditures and can be seen in the research and data coming from USDA and the Organization for Economic Cooperation and Development.
Farmers looking to capitalize on sustainability for their cotton farms should make plans to attend the first ever Cotton U on Dec. 5 at the Amarillo Farm & Ranch Show in Amarillo, Texas, to learn about a new pilot program initiated by the National Cotton Council.