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Projection of Cotton Warehouse Facilities for Oklahoma: A Markov Process

Published online by Cambridge University Press:  28 April 2015

O. A. Cleveland  and
Michael S. Salkin
O. A. Cleveland
Affiliation:
Economic Research Service, USDA
Michael S. Salkin
Affiliation:
Department of Agricultural Economics, Oklahoma State University
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Extract

The cotton industry's decline in competitive strength is a matter of increasing concern to industry members and public policymakers. There are many complex economic adjustments arising from changes in government policies, technological advancement, and changing market conditions at home and abroad. The impact of these factors, coupled with increased competition of synthetic fibers and foreign-grown cotton, has been felt by all segments of the industry. Industry experience and recent research results [1, 3] indicate that serious overcapacity has developed in warehousing facilities and, as a consequence, producers and consumers have suffered through increased per-bale storage and assembly costs.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 7 , Issue 1 , July 1975 , pp. 179 - 184
Copyright
Copyright © Southern Agricultural Economics Association 1975

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References

[1] Chandler, Whitman M. Jr., and Ghetti, Joseph L.. “Cost of Storing and Handling Cotton at Public Storage Facilities,” U.S. Department of Agriculture, ERS-515, April, 1973.Google Scholar
[2] Cleveland, O. A. Jr., Just, Richard E. and Salkin, Michael S.. “Application of Markov Chain Analysis,” Oklahoma Agricultural Experiment Station Bulletin, September, 1974.Google Scholar
[3] Ghetti, Joseph L., Candler, Whitman M. Jr., Strickland, Roger P. Jr. and Kite, Rodney C.. “Storing and Handling Cotton in Public Facilities,” U.S. Department of Agriculture, ERS-469, April, 1971.Google Scholar
[4] Ghetti, Joseph L. Working papers within Fibers Group, ERS, U.S. Department of Agriculture, September, 1973.Google Scholar
[5] Kemeny, J. G., and Snell, J. L.. Finite Markov Chains, Princeton D. Van Nostrand Company, Inc., 1960.Google Scholar
[6] Looney, Zolon M. Working papers within Fibers Group, ERS, U.S. Department of Agriculture, April, 1972.Google Scholar