Journal of Agricultural and Applied Economics · 1999 · 38 citations · 13 references
AgricultureAgricultural EconomicsEconomicsAgribusiness EconomicsFarm ManagementProduction EconomicsAgricultural Production EconomicsDairy ProductionFarm Management EconomicsMilk ProductionDairy Production EconomicsDairy Production SystemsFarm Size EconomicsFarm Size StructureMacroeconomic ConditionsMacroeconomic ImpactsMilk Economy
Abstract As with most agricultural industries, the U.S. dairy industry has evolved into a structure including fewer yet larger firms. In Louisiana, total milk production has declined along with dairy farm numbers since 1972. This study addresses the impact of alternative policies, macroeconomic factors, and technology on the structure of the Louisiana dairy industry using a micro-data non-stationary Markov chain analysis. Results indicate that a number of factors have affected the structure of the industry in Louisiana, including but not limited to prices, milk supply reduction programs, technology and interest rates.
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