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Cotton Quality, Price, and Use Value: A Statistical Model of a Textile Processing Plant

Published online by Cambridge University Press:  28 April 2015

Preston E. LaFerney
Preston E. LaFerney*
Affiliation:
MED, ERS, U.S.D.A., Clemson, S.C.
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Extract

Cotton's position as the leading raw input supplier of the American textile industry is in grave danger. Recent years have seen various synthetic and man-made fibers make serious inroads into cotton's markets. In 1955, cotton enjoyed about 65 percent of the total domestic fiber market. By 1960, with the introduction of relatively high priced substitutes such as nylon, cotton still commanded close to 65 percent of this market. Today, after the introduction of improved nylon, the polyesters, and the high-modulus rayons at more competitive prices, cotton comprises only about 50 percent of the textile market.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 1 , Issue 1 , December 1969 , pp. 91 - 97
Copyright
Copyright © Southern Agricultural Economics Association 1969

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References

1.Bolinski, M.L. and Baumol, W.J., “Economics of the Evaluation of Unprocessed Cottons,” unpublished contract report, Mathematica, Princeton, N.J., Feb. 1963.Google Scholar
2.Friedman, Milton, Price Theory, A Provisional Text, page 172, Aldine Publishing Co., Chicago, 1962.Google Scholar
3.Home, M. K. Jr., Inter-Fiber Competition, Keynote address to Symposium sponsored by the International Cotton Advisory Committee, Washington, D.C., May 20, 1965.Google Scholar
4.Home, M. K. Jr. and McCord, Frank A., Price and Today's Markets for U.S. Cotton, National Cotton Council, Memphis, Tenn., Sept. 1962.Google Scholar
5.LaFerney, Preston E., A Nonlinear Model for Evaluation of Cotton Processed by Mills for Specific End Uses, U.S. Department of Agriculture, Tech. Bui. No. 1401, Jan. 1969.Google Scholar
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7.U.S. Department of Agriculture, Statistics on Cotton and Related Data, page 12, ERS, Stat. Bui. No. 417, March, 1968.Google Scholar