REGIONAL SHRIMP MARKET RESPONSES TO DOMESTIC LANDINGS AND IMPORTS
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U.S. shrimp landings are divided into four geographic regional markets and may be further subdivided into species and size characteristics. Seemingly unrelated regressions were used to analyze regional price responses of variable annual landings of shrimp. The contemporaneous correlation of competing market supplies and demands accounted for an improvement in forecasting reliability in each area and for species and size relationships. Imports were shown to affect regional markets unevenly, having a significantly higher impact on South Atlantic shrimp prices than on Gulf of Mexico, West Coast, or New England markets. Real disposable personal income affected West Coast and South Atlantic prices much more dramatically than those of Gulf Coast markets. The composition of the catch by size and species in each season introduced variable responses by regional market. Also, South Atlantic appeared least price-sensitive to its own catch.