Dairy Farm Size, Entry, and Exit in a Declining Production Region

Noro C. Rahelizatovo · Jeffrey Gillespie

38 citations0/0 files storedJournal of Agricultural and Applied Economics

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Agricultural economics and policies Livestock Farming and Management Economics of Agriculture and Food Markets

Abstract

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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References

1969Maximum likelihood estimation of a complete system of demand equations 1975Spatial Perspectives on Industrial Organization and Decision-Making.1992Alternative models of structural change in agriculture and related industries 1995Asymmetry and Nonstationarity in the Farm Size Distribution of Wisconsin Milk Producers: An Aggregate Analysis 1981Structural Change in Agriculture: The Experience for Broilers, Fed Cattle, and Processing Vegetables 1969Projecting the Size Distribution of Agricultural Firms—An Application of a Markov Process with Non‐Stationary Transition Probabilities

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