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Markets for major agricultural commodities are typically analyzed by looking at supply-and-use conditions and implications for prices. From an economic perspective, these factors determine the market equilibrium. In the U.S. agricultural sector, many interactions and relationships exist between and among different commodities. For example, corn production and prices affect feed costs in the livestock sector.

California, Iowa, Illinois, Minnesota, and Nebraska are the five States with the highest value of crop sales. With its large horticultural sector, California"s overall crop value of more than $30 billion in 2012 is about 75 percent higher than that of Iowa, the second-ranked State. In contrast to California, crop values in the next four leading States derive from grains and oilseeds, particularly corn and soybeans. For other crops, Washington State typically leads the country in apple production, while Florida is the largest producer of oranges.

Livestock production and sales occur in all 50 States. Texas, Iowa, California, Nebraska, and Kansas lead the country in sales value of livestock and their products. The cattle sector is the dominant source of value in Texas, Kansas, and Nebraska. Milk from cows accounts for about 57 percent of livestock-sale value in California. Both the hog and cattle sectors are large sources of sales value in Iowa. North Carolina is the leading producing State of poultry and eggs, followed by Georgia.

Since 1990, combined acreage planted to corn, wheat, soybeans, and upland cotton in the United States has ranged from 219 million to 242 million acres. Starting in the 1990s, policy changes increased planting flexibility provided to farmers. These changes have allowed farmers to respond to market signals in their cropping choices. Over the past 10 years (2011–2020), the combined annual planting acreage for these crops has maintained a higher average (236 million acres) than the prior decade (228 million acres). Since 1990, the three highest combined annual planting totals for these crops occurred in 2012, 2014, and 2018. Acreage dropped in 2019, mostly as a result of a large decrease in the planting of soybeans.

The number of milk cows in the United States generally fell in the 1980s and 1990s but has generally risen since the early 2000s. Milk output has risen 70 percent since 1980 and in 2019 exceeded 218 billion pounds per year. Genetic developments and technological improvements underlie a pronounced upward trend in milk output per cow. Consolidation in the dairy sector also has facilitated efficiency gains in milk production.

Although prices for agricultural commodities frequently vary from year to year, they have generally moved higher since 2000. In these aggregate measures, inflation adjusted prices for crops were up more than 38 percent above their 2005 levels, while those for livestock rose over 29 percent from 2006 to 2018. Prices for both crops and livestock have fallen since 2014, however, as U.S. and global markets responded to higher prices by increasing production.

Increased productivity in crop production underlies a general decrease in inflation-adjusted prices for corn, wheat, and soybeans over the past century. This downward price trend was reversed during the past decade by global growth in population and income, increasing biofuel production, and a depreciation of the U.S. dollar, but is likely to resume from these recent higher levels as population and income growth slow, biofuel production levels off, and as the U.S. dollar strengthens.

Cattle, hog, and broiler prices have not kept pace with inflation over the past 30 years. Inflation-adjusted hog prices have been lower than 1990 prices from 1991 on. The highest inflation-adjusted cattle and broiler prices in the past 30 years were in 2014. (2014 inflation-adjusted hog prices were the highest they have been in the 21st century.) From 2000 to 2014, inflation-adjusted meat prices reflected slower production growth as meat output responded to lower producer profits due in part to rising feed costs. Cattle production costs, production, and prices also were affected by poor forage conditions due to lingering droughts over much of the past decade, particularly in the Southern Plains. As feed prices have softened, however, livestock production has risen since 2015, lowering U.S. livestock prices.

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At the same time, processing facilities have dealt with labor shortages that have reduced their capacity to process meat at the same clip as before the pandemic. This reduced production came as demand for beef returned from both consumers and restaurants, forcing prices higher.

From the prices of the chemical fertilizers that help grow the feed that cattle eat to the cost of the materials used to package meat for sale to consumers, every aspect of the beef supply chain has become more expensive.

"Think about the amount of polystyrene that is used to put out the meat. The tray and pads from the supermarket. So much goes into beef production, and all of those costs have gone up, which affects the cost of a hamburger or a steak," Lively says. He adds that carbon dioxide, which is used in ground beef production to keep meat cold, has almost doubled in price over the past year.

But isn’t Tyson feeling the effects of supply chain disruptions and inflation? And what about those ranchers producing the cows or the folks buying it at the grocery store?

Just a few miles down the road from Tyson Foods headquarters in Springdale, Arkansas, you’ll find Wright’s BBQ, which is owned and operated by Jordan Wright.

“You know, when pricing changes on ribs from $1.50 to $2.05 a pound, you know, that’s real margin that you’ve got to then go add to your menu and make sure you’re not losing,” Wright said.

“I think the evidence suggests that they have taken advantage of the disruption in the economy in general from the pandemic to leverage it, to make use of that market power to raise our prices and to lower what they’re paying up to farmers,” Mercier said.

There’s a precise supply chain that gets meat to the grocery store, and there’s currently a bottleneck at meatpacking plants. That’s another reason farmers aren’t benefiting from you paying higher prices, said Jeffrey Peterson, an agribusiness attorney in Minnesota.

Prices for all TV panel sizes fluctuated and are forecast to fluctuate between 2020 and 2022. The period from March 2020 to July 2021 saw the biggest price increases, when a 65" UHD panel cost between 171 and 288 U.S. dollars. In the fourth quarter of 2021, such prices fell and are expected to drop to an even lower amount by March 2022.Read moreLCD TV panel prices worldwide from January 2020 to March 2022, by size(in U.S. dollars)Characteristic32" HD43" FHD49"/50" UHD55" UHD65" UHD------

DSCC. (January 10, 2022). LCD TV panel prices worldwide from January 2020 to March 2022, by size (in U.S. dollars) [Graph]. In Statista. Retrieved February 21, 2023, from https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/

DSCC. "LCD TV panel prices worldwide from January 2020 to March 2022, by size (in U.S. dollars)." Chart. January 10, 2022. Statista. Accessed February 21, 2023. https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/

DSCC. (2022). LCD TV panel prices worldwide from January 2020 to March 2022, by size (in U.S. dollars). Statista. Statista Inc.. Accessed: February 21, 2023. https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/

DSCC. "Lcd Tv Panel Prices Worldwide from January 2020 to March 2022, by Size (in U.S. Dollars)." Statista, Statista Inc., 10 Jan 2022, https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/

DSCC, LCD TV panel prices worldwide from January 2020 to March 2022, by size (in U.S. dollars) Statista, https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/ (last visited February 21, 2023)

LCD TV panel prices worldwide from January 2020 to March 2022, by size (in U.S. dollars) [Graph], DSCC, January 10, 2022. [Online]. Available: https://www.statista.com/statistics/1288400/lcd-tv-panel-price-by-size/

Eighteenth-century American culture moved in competing directions. Commercial, military, and cultural ties between Great Britain and the North American colonies tightened while a new distinctly American culture began to form and bind together colonists from New Hampshire to Georgia. Immigrants from other European nations meanwhile combined with Native Americans and enslaved Africans to create an increasingly diverse colonial population. All—men and women, European, Native American, and African—led distinct lives and wrought new distinct societies. While life in the thirteen colonies was shaped in part by English practices and participation in the larger Atlantic World, emerging cultural patterns increasingly transformed North America into something wholly different.

During the seventeenth and eighteenth centuries, improvements in manufacturing, transportation, and the availability of credit increased the opportunity for colonists to purchase consumer goods. Instead of making their own tools, clothes, and utensils, colonists increasingly purchased luxury items made by specialized artisans and manufacturers. As the incomes of Americans rose and the prices of these commodities fell, these items shifted from luxuries to common goods. The average person’s ability to spend money on consumer goods became a sign of their respectability. Historians have called this process the “consumer revolution.”

Britain relied on the colonies as a source of raw materials, such as lumber and tobacco. Americans engaged with new forms of trade and financing that increased their ability to buy British-made goods. But the ways in which colonists paid for these goods varied sharply from those in Britain. When settlers first arrived in North America, they typically carried very little hard or metallic British money with them. Discovering no precious metals (and lacking the Crown’s authority to mint coins), colonists relied on barter and nontraditional forms of exchange, including everything from nails to the wampum used by Native American groups in the Northeast. To deal with the lack of currency, many colonies resorted to “commodity money,” which varied from place to place. In Virginia, for example, the colonial legislature stipulated a rate of exchange for tobacco, standardizing it as a form of money in the colony. Commodities could be cumbersome and difficult to transport, so a system of notes developed. These notes allowed individuals to deposit a certain amount of tobacco in a warehouse and receive a note bearing the value of the deposit that could be traded as money. In 1690, colonial Massachusetts became the first place in the Western world to issue paper bills to be used as money.

Businesses on both sides of the Atlantic advertised both their goods and promises of obtaining credit. The consistent availability of credit allowed families of modest means to buy consumer items previously available only to elites. Cheap consumption allowed middle-class Americans to match many of the trends in clothing, food, and household décor that traditionally marked the wealthiest, aristocratic classes. Provincial Americans, often seen by their London peers as less cultivated or “backwater,” could present themselves as lords and ladies of their own communities by purchasing and displaying British-made goods. Visiting the home of a successful businessman in Boston, John Adams described “the Furniture, which alone cost a thousand Pounds sterling. A seat it is for a noble Man, a Prince. The Turkey Carpets, the painted Hangings, the Marble Table, the rich Beds with crimson Damask Curtains and Counterpins, the beautiful Chimney Clock, the Spacious Garden, are the most magnificent of any thing I have seen.”Boston Evening Post remarked on this new practice of purchasing status: “For ’tis well known how Credit is a mighty inducement with many People to purchase this and the other Thing which they may well enough do without.”

Of course, the thirteen continental colonies were not the only British colonies in the Western Hemisphere. In fact, they were considerably less important to the Crown than the sugar-producing islands of the Caribbean, including Jamaica, Barbados, the Leeward Islands, Grenada, St. Vincent, and Dominica. These British colonies were also inextricably connected to the continental colonies. Caribbean plantations dedicated nearly all of their land to the wildly profitable crop of sugarcane, so North American colonies sold surplus food and raw materials to these wealthy island colonies. Lumber was in high demand, especially in Barbados, where planters nearly deforested the island to make room for sugar plantations. To compensate for a lack of lumber, Barbadian colonists ordered house frames from New England. These prefabricated frames were sent via ships from which planters transported them to their plantations. Caribbean colonists also relied on the continental colonies for livestock, purchasing cattle and horses. The most lucrative exchange was the slave trade.

Connections between the Caribbean and North America benefited both sides. Those living on the continent relied on the Caribbean colonists to satisfy their craving for sugar and other goods like mahogany. British colonists in the Caribbean began cultivating sugar in the 1640s, and sugar took the Atlantic World by storm. In fact, by 1680, sugar exports from the tiny island of Barbados valued more than the total exports of all the continental colonies.

In South Carolina and Georgia, slavery was also central to colonial life, but specific local conditions created a very different system. Georgia was founded a philanthropic group that included James Oglethorpe. The trustees originally banned slavery from the colony. But by 1750, slavery was legal throughout the region. South Carolina had been a slave colony from its founding and, by 1750, was the only mainland colony with a majority enslaved African population. The Fundamental Constitutions of Carolina, coauthored by the philosopher John Locke in 1669, explicitly legalized slavery from the very beginning. Many early settlers in Carolina were enslavers from British Caribbean sugar islands, and they brought their brutal slave codes with them. Defiant enslaved people could legally be beaten, branded, mutilated, even castrated. In 1740 a new law stated that killing a rebellious enslaved person was not a crime and even the murder of an enslaved person was treated as a minor misdemeanor. South Carolina also banned the freeing of enslaved laborers unless the freed person left the colony.

Despite this brutal regime, a number of factors combined to give enslaved people in South Carolina more independence in their daily lives. Rice, the staple crop underpinning the early Carolina economy, was widely cultivated in West Africa, and planters commonly requested that merchants sell them enslaved laborers skilled in the complex process of rice cultivation. Enslaved people from Senegambia were particularly prized.

With plantation owners often far from home, Carolina enslaved laborers had less direct oversight than those in the Chesapeake. Furthermore, many Carolina rice plantations used the task system to organize enslaved laborers. Under this system, enslaved laborers were given a number of specific tasks to complete in a day. Once those tasks were complete, enslaved people often had time to grow their own crops on garden plots allotted by their enslavers. Thriving underground markets allowed enslaved people here a degree of economic autonomy. Enslaved people in Carolina also had an unparalleled degree of cultural autonomy. This autonomy coupled with the frequent arrival of new Africans enabled a culture that retained many African practices.

Increasingly uneasy about the growth of slavery in the region, Quakers were the first group to turn against slavery. Quaker beliefs in radical nonviolence and the fundamental equality of all human souls made slavery hard to justify. Most commentators argued that slavery originated in war, where captives were enslaved rather than executed. To pacifist Quakers, then, the very foundation of slavery was illegitimate. Furthermore, Quaker belief in the equality of souls challenged the racial basis of slavery. By 1758, Quakers in Pennsylvania disowned members who engaged in the slave trade, and by 1772 slave-owning Quakers could be expelled from their meetings. These local activities in Pennsylvania had broad implications as the decision to ban slavery and slave trading was debated in Quaker meetings throughout the English-speaking world. The free Black population in Philadelphia and other northern cities also continually agitated against slavery.

Slavery as a system of labor never took off in Massachusetts, Connecticut, or New Hampshire, though it was legal throughout the region. The absence of cash crops like tobacco or rice minimized the economic use of slavery. In Massachusetts, only about 2 percent of the population was enslaved as late as the 1760s. The few enslaved people in the colony were concentrated in Boston along with a sizable free Black community that made up about 10 percent of the city’s population.

Consumption, trade, and slavery drew the colonies closer to Great Britain, but politics and government split them further apart. Democracy in Europe more closely resembled oligarchies rather than republics, with only elite members of society eligible to serve in elected positions. Most European states did not hold regular elections, with Britain and the Dutch Republic being the two major exceptions. However, even in these countries, only a tiny portion of males could vote. In the North American colonies, by contrast, white male suffrage was far more widespread. In addition to having greater popular involvement, colonial government also had more power in a variety of areas. Assemblies and legislatures regulated businesses, imposed new taxes, cared for the poor in their communities, built roads and bridges, and made most decisions concerning education. Colonial Americans sued often, which in turn led to more power for local judges and more prestige in jury service. Thus, lawyers became extremely important in American society and in turn played a greater role in American politics.

Political structures in the colonies fell under one of three main categories: provincial (New Hampshire, New York, Virginia, North Carolina, South Carolina, and Georgia), proprietary (Pennsylvania, Delaware, New Jersey, and Maryland), and charter (Massachusetts, Rhode Island, and Connecticut). Provincial colonies were the most tightly controlled by the Crown. The British king appointed all provincial governors and these Crown governors could veto any decision made by their colony’s legislative assemblies. Proprietary colonies had a similar structure, with one important difference: governors were appointed by a lord proprietor, an individual who had purchased or received the rights to the colony from the Crown. Proprietary colonies therefore often had more freedoms and liberties than other North American colonies. Charter colonies had the most complex system of government: they were formed by political corporations or interest groups that drew up a charter clearly delineating powers between the executive, legislative, and judiciary branches of government. Rather than having appointed governors, charter colonies elected their own from among property-owning men in the colony.

After the governor, colonial government was broken down into two main divisions: the council and the assembly. The council was essentially the governor’s cabinet, often composed of prominent individuals within the colony, such as the head of the militia or the attorney general. The governor appointed these men, although the appointments were often subject to approval from Parliament. The assembly was composed of elected, property-owning men whose official goal was to ensure that colonial law conformed to English law. The colonial assemblies approved new taxes and the colonial budgets. However, many of these assemblies saw it as their duty to check the power of the governor and ensure that he did not take too much power within colonial government. Unlike Parliament, most of the men who were elected to an assembly came from local districts, with their constituency able to hold their elected officials accountable to promises made.

New ideas governing romantic love helped change the nature of husband-wife relationships. Deriving from sentimentalism, a contemporary literary movement, many Americans began to view marriage as an emotionally fulfilling relationship rather than a strictly economic partnership. Referring to one another as “Beloved of my Soul” or “My More Than Friend,” newspaper editor John Fenno and his wife Mary Curtis Fenno illustrate what some historians refer to as the “companionate ideal.”

From the establishment of Virginia in 1607, printing was either regarded as unnecessary given such harsh living conditions or actively discouraged. The governor of Virginia, Sir William Berkeley, summed up the attitude of the ruling class in 1671: “I thank God there are no free schools nor printing . . . for learning has brought disobedience, and heresy . . . and printing has divulged them.”

Print culture was very different in New England. Puritans had a respect for print from the beginning. Unfortunately, New England’s authors were content to publish in London, making the foundations of Stephen Daye’s first print shop in 1639 very shaky. Typically, printers made their money from printing sheets, not books to be bound. The case was similar in Massachusetts, where the first printed work was a Freeman’s Oath.Bay Psalm Book, of which eleven known copies survive. Daye’s contemporaries recognized the significance of his printing, and he was awarded 140 acres of land. The next large project, the first Bible to be printed in America, was undertaken by Samuel Green and Marmaduke Johnson and published in 1660. That same year, the Eliot Bible, named for its translator John Eliot, was printed in the Natick dialect of the local Algonquin tribes.

Massachusetts remained the center of colonial printing for a hundred years, until Philadelphia overtook Boston in 1770. Philadelphia’s rise as the printing capital of the colonies began with two important features: first, the arrival of Benjamin Franklin, a scholar and businessman, in 1723, and second, waves of German immigrants who created a demand for a German-language press. From the mid-1730s, Christopher Sauer, and later his son, met the demand for German-language newspapers and religious texts. Nevertheless, Franklin was a one-man culture of print, revolutionizing the book trade in addition to creating public learning initiatives such as the Library Company and the Academy of Philadelphia. His Autobiography offers one of the most detailed glimpses of life in an eighteenth-century print shop. Franklin’s Philadelphia enjoyed a flurry of newspapers, pamphlets, and books for sale. The flurry would only grow in 1776 when the Philadelphia printer Robert Bell issued hundreds of thousands of copies of Thomas Paine’s revolutionary Common Sense.

Ultimately the religious revivals became a victim of the preachers’ success. As itinerant preachers became more experimental, they alienated as many people as they converted. In 1742, one preacher from Connecticut, James Davenport, persuaded his congregation that he had special knowledge from God. To be saved they had to dance naked in circles at night while screaming and laughing. Or they could burn the books he disapproved of. Either way, such extremism demonstrated for many that revivalism had gone wrong.

The Seven Years’ War ended with the peace treaties of Paris and Hubertusburg in 1763. The British received much of Canada and North America from the French, while the Prussians retained the important province of Silesia. This gave the British a larger empire than they could control, which contributed to tensions that would lead to revolution. In particular, it exposed divisions within the newly expanded empire, including language, national affiliation, and religious views. When the British captured Quebec in 1760, a newspaper distributed in the colonies to celebrate the event boasted: “The time will come, when Pope and Friar/Shall both be roasted in the fire/When the proud Antichristian whore/will sink, and never rise more.”

Relationships between colonists and Native Americans were complex and often violent. In 1761, Neolin, a prophet, received a vision from his religion’s main deity, known as the Master of Life. The Master of Life told Neolin that the only way to enter heaven would be to cast off the corrupting influence of Europeans by expelling the British: “This land where ye dwell I have made for you and not for others. Whence comes it that ye permit the Whites upon your lands. . . . Drive them out, make war upon them.”

Pontiac took Neolin’s words to heart and sparked the beginning of what would become known as Pontiac’s War. At its height, the uprising included Native peoples from the territory between the Great Lakes, the Appalachians, and the Mississippi River. Though Pontiac did not command all of those participating in the war, his actions were influential in its development. Pontiac and three hundred warriors sought to take Fort Detroit by surprise in May 1763, but the plan was foiled, resulting in a six-month siege of the British fort. News of the siege quickly spread and inspired more attacks on British forts and settlers. In May, Native Americans captured Forts Sandusky, St. Joseph, and Miami. In June, a coalition of Ottawas and Ojibwes captured Fort Michilimackinac by staging a game of stickball (lacrosse) outside the fort. They chased the ball into the fort, gathered arms that had been smuggled in by a group of Native American women, and killed almost half of the fort’s British soldiers.

Though these Native Americans were indeed responding to Neolin’s religious message, there were many other practical reasons for waging war on the British. After the Seven Years’ War, Britain gained control of formerly French territory as a result of the Treaty of Paris. Whereas the French had maintained a peaceful and relatively equal relationship with their Native American allies through trade, the British hoped to profit from and impose “order.” For example, the French often engaged in the Indigenous practice of diplomatic gift giving. However, British general Jeffrey Amherst discouraged this practice and regulated the trade or sale of firearms and ammunition to Indigenous people. Most Native Americans, including Pontiac, saw this not as frugal imperial policy but preparation for war.

The effects of Pontiac’s War were substantial and widespread. The war proved that coercion was not an effective strategy for imperial control, though the British government would continue to employ this strategy to consolidate their power in North America, most notably through the various acts imposed on their colonies. Additionally, the prohibition of Anglo-American settlement in Native American territory, especially the Ohio River Valley, sparked discontent. The French immigrant Michel-Guillaume-Saint-Jean de Crèvecoeur articulated this discontent most clearly in his 1782 Letters from an American Farmer when he asked, “What then is the American, this new man?” In other words, why did colonists start thinking of themselves as Americans, not Britons? Crèvecoeur suggested that America was a melting pot of self-reliant individual landholders, fiercely independent in pursuit of their own interests, and free from the burdens of European class systems. It was an answer many wanted to hear and fit with self-conceptions of the new nation, albeit one that imagined itself as white, male, and generally Protestant.

The Seven Years’ War was tremendously expensive and precipitated imperial reforms on taxation, commerce, and politics. Britain spent over £140 million, an astronomical figure for the day, and the expenses kept coming as new territory required new security obligations. Britain wanted to recoup some of its expenses and looked to the colonies to share the costs of their own security. To do this, Parliament started legislating over all the colonies in a way rarely done before. As a result, the colonies began seeing themselves as a collective group, rather than just distinct entities. Different taxation schemes implemented across the colonies between 1763 and 1774 placed duties on items like tea, paper, molasses, and stamps for almost every kind of document. Consumption and trade, an important bond between Britain and the colonies, was being threatened. To enforce these unpopular measures, Britain implemented increasingly restrictive policies that eroded civil liberties like protection from unlawful searches and jury trials. The rise of an antislavery movement made many colonists worry that slavery would soon be attacked. The moratorium on new settlements in the West after Pontiac’s War was yet another disappointment.

Sarah Knight traveled from her home in Massachusetts to trade goods. Through her diary, we can get a sense of life during the consumer revolution, as well as some of the prejudices and inequalities that shaped life in eighteenth-century New England.

Eliza Lucas was born into a moderately wealthy family in South Carolina. Throughout her life she shrewdly managed her money and greatly added to her family’s wealth. These two letters from an unusually intelligent financial manager offer a glimpse into the commercial revolution and social worlds of the early eighteenth century.

Jonathan Edwards catalyzed the revivals known as the Great Awakening. While Edwards was not the most prolific revivalist of the era—that honor belonged to George Whitefield—he did deliver the most famous sermon of the eighteenth century, commonly called “Sinners in the Hands of Angry God.” This excerpt is drawn from the final portion of the sermon, known as the application, where hearers were called to take action.

The end of the Seven Years War brought shockwaves throughout Native American communities. With the French removed from North America, their former Native American allies were forced to adapt quickly. In this document, a Choctaw leader expresses his concern over the new political reality.

Religion played an important role in each of the British colonies – for different reasons. In Virginia, the Anglican church was the official religion of the colonial government and colonists had to attend or be fined, so churches like Christ Church became important sites for political, economic, and social activity that reinforced the dominance of the planter elite. Robert “King” Carter built this church on the site of an earlier one built by his father. The Carter tombs belong to Robert Carter and his first and second wives. The colonial road that stopped at the door of the church went directly to the Carter family estate. Pews corresponded with social status: the highest ranking member of the gentry sat in the pew before the altar, across from the pulpit. Poor whites sat at the back, and enslaved men and women who came to church would have stood or taken the seats closest to the door – cold in winter, hot in summer, and farthest from the preacher. Many churches eventually built separate gallery seating for the enslaved who attended services. These churches were criticized during the Great Awakening, particularly by Baptists, who preached the equality of souls and felt the Anglican church was lacking in religiosity.

Colonial elites used clothing, houses, portraits, furniture, and manners to participate in a culture of gentility that they believed placed them on an equal footing with elites in England. Robert Feke’s 1741 portrait of the Royall family portrays Isaac Royall Jr. at age 22, just two years after he inherited his father’s estate, including the family mansion outside Boston, a sugar plantation on Antigua, and eighteen enslaved African Americans, which helped him become one of the wealthiest men in the colony of Massachusetts. He married Elizabeth McIntosh (wearing blue), aged fifteen at the time of her marriage in 1738, confirming his position among the colonial elite. Their eight-month-old daughter, Elizabeth, holds a coral teething stick with a gold and ivory handle (coral was traditionally believed to ward off evil spirits). Also pictured is Penelope Royall Vassall, Isaac’s sister who married a Jamaican planter, and his sister-in-law, Mary McIntosh Palmer. Mary Palmer’s pointed finger and Isaac Royall’s hand on his hip were poses drawn from other major artistic works and were intended to convey their ease and refinement, while their silken clothes communicated wealth.

LCD panel prices have risen for 4 months in a row because of your home gaming? Since this year, the whole LCD panel market has smoked. Whether after the outbreak of the epidemic, LCD panel market prices rose for four months, or the panel giants in Japan and South Korea successively sold production lines, or the Chinese mainland listed companies frequently integrated acquisition, investment, and plant construction, all make the industry full of interesting.

LCD panel prices are already a fact. Since May this year, LCD panel prices have risen for four months in a row, making the whole industry chain dynamic. Why are LCD panels going up in price in a volatile 2020? The key factor lies in the imbalance between supply and demand.

The price of LCDS for large-size TVs of 70 inches or more hasn’t budged much. In addition, LTPS screens and AMOLED screens used in high-end phones have seen little or no increase in price.

As for October, LCD panel price increases are expected to moderate. The data shows that in October 32 inches or 2 dollars; Gains of 39.5 to 43 inches will shrink to $3;55 inches will fall back below $10; The 65-inch gain will narrow to $5.

During the epidemic, people stayed at home and had no way to go out for entertainment. They relied on TV sets, PCS, and game consoles for entertainment. After the resumption of economic work and production, the market of traditional home appliances picked up rapidly, and LCD production capacity was quickly digested.

However, due to the shutdown of most factories lasting 1-2 months during the epidemic period, LCD panel production capacity was limited, leading to insufficient production capacity in the face of the market outbreak, which eventually led to the market shortage and price increase for 4 consecutive months.

In fact, the last round of price rise of LCD panels was from 2016 to 2017, and its overall market price has continued to fall since 2018. Even in 2019, individual types have fallen below the material cost, and the whole industry has experienced a general operating loss. As a result, LCD makers have been looking for ways to improve margins since last year.

A return to a reasonable price range is the most talked about topic among panel makers in 2019, according to one practitioner. Some manufacturers for the serious loss of the product made the decision to reduce production or even stop production; Some manufacturers planned to raise the price, but due to the epidemic in 2020, the downstream demand was temporarily suppressed and the price increase was postponed. After the outbreak was contained in April, LCD prices began to rise in mid-to-late May.

In fact, the market price of LCD panels continued to decline in 2018-2019 because of the accelerated rise of China’s LCD industry and the influx of a large number of local manufacturers, which doubled the global LCD panel production capacity within a few years, but there was no suitable application market to absorb it. The result of excess capacity is oversupply, ultimately making LCD panel prices remain depressed.

Against this background, combined with the impact of the epidemic in 2020, the operating burden of LCD companies in Japan and South Korea has been further aggravated, and it is difficult to make profits in the production of LCD panels, so they have to announce the withdrawal of LCD business.

business in June 2022. In August, Sharp bought JDI Baishan, a plant in Ishikawa prefecture that makes liquid crystal display panels for smartphones. In early September, Samsung Display sold a majority stake in its SUZHOU LCD production plant to Starlight Electronics Technology, a unit of TCL Technology Group. LGD has not only pulled out of some of its production capacity but has announced that it will close its local production line in 2020. According to DSCC, a consultancy, the share of LCD production capacity in South Korea alone will fall from 19% to 7% between 2020 and 2021.

It is worth mentioning that in industry analysis, in view of the fact that Korean companies are good at using “dig through old bonus – selling high price – the development of new technology” the cycle of development mode, another 2020 out of the LCD production capacity, the main reason may be: taking the advantage of China’s expanding aggressively LCD manufacturers, Korean companies will own LCD panel production line hot sell, eliminating capacity liquid to extract its final value, and turning to the more profitable advantage of a new generation of display technologies, such as thinner, color display better OLED, etc. Samsung, for example, has captured more than 80% of the OLED market with its first-mover advantage.

From the perspective of production capacity, the launch of LCD tracks by major manufacturers in Japan and South Korea must reduce some production capacity in the short term, which to some extent induces market price fluctuations. In the long run, some of the Japanese and Korean LCD production capacity has been bought by Chinese manufacturers, coupled with frequent investment in recent years, the overall capacity is sure to recover as before, or even more than before. But now it will take time to expand the production layout, which more or less will cause supply imbalance, the industry needs to be cautious.

The LCD panel industry started in the United States and then gradually moved to Japan, South Korea, China, and Taiwan. At present, the proportion of production capacity in The Chinese mainland has reached 52% in 2020, and there are leading LCD panel products in China represented by BOE, Huxing Optoelectronics. Meanwhile, the production capacity layout of BOE, Huike, Huxing Optoelectronics, and other manufacturers has been basically completed, making industrial integration a necessity.

On the one hand, South Korean enterprises out of the LCD track, the domestic factory horse enclosure, plant expansion action. While LCDs may not sell as well as “upstart” flexible screens, respondents believe they are still strong enough in the traditional home appliance market to warrant continued investment. Zhao Bin, general manager of TCL Huaxing Development Center, has said publicly that the next-generation display technology will be mature in four to five years, but the commercialization of products may not take place until a decade later. “LCD will still be the mainstream in this decade,” he said.

On the other hand, there is no risk of neck jam in China’s LCD panel industry, which is generally controllable. In mainland China, there will be 21 production lines capable of producing 32-inch or larger LCD panels by 2021, accounting for about two-thirds of the global total. In terms of the proportion of production capacity, the Chinese mainland accounted for 42% of the global LCD panel in 2019, 51% this year, and will continue to climb to 63% next year.

Of course, building factories and expanding production cannot be accomplished overnight. In the process of production capacity recovery, it is predicted that there will be several price fluctuations, and the cost may be passed on to the downstream LCD panel manufacturers or consumers when the price rises greatly, which requires continuous attention.

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