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The Influence of Fat and Weight on the Price of Lamb in the Homebush Livestock and Wholesale Markets

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  • Mullen, John D.
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    Abstract

    An econometric analysis is reported of the relationship between price, and fat cover and weight, in the Homebush livestock and wholesale markets in 1987, 1988 and 1989 using data from the Livestock Market Reporting Service. Implicit prices for changes in weight and fat cover were estimated while accounting for changes in supply and demand conditions for lamb. The analysis lends support to the view that consumer preference for leaner lamb was not being reflected in prices offered for lamb in traditional auction markets.

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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.

    Volume (Year): 63 (1995)
    Issue (Month): 01 (April)
    Pages:

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    Handle: RePEc:ags:remaae:12467

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    Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    Keywords: Demand and Price Analysis;

    References

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    1. Griffith, Garry R. & Green, W. & Duff, G.L., 1991. "Another Look at Price Levelling and Price Averaging in the Sydney Meat Market," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(02), August.
    2. John D. Mullen & Michael K. Wohlgenant, 1991. "The Willingness Of Consumers To Pay For Attributes Of Lamb," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(3), pages 247-262, December.
    3. Freebairn, John W., 1973. "The Value Of Information Provided By A Uniform Grading System," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 17(02), August.
    4. Thursby, Jerry G, 1989. "A Comparison of Several Specification Error Tests for a General Alternative," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 217-30, February.
    5. O'Connell, John, 1986. "A Hedonic Price Model of the Paris Carcase Lamb Market," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 13(4), pages 439-50.
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    Cited by:
    1. Farrell, Terence C. & Tozer, Peter R., 1996. "Strategic Alliances and Marketing Cooperatives: a Lamb Industry Case Study," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(02), August.
    2. Hufton, Charlie & Griffith, Garry R. & Mullen, John D., 2008. "The influence of weight and fat on lamb prices revisited," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6021, Australian Agricultural and Resource Economics Society.
    3. Vere, David T. & Griffith, Garry R., 1995. "Forecasting in the Australian Lamb Industry: the Influence of Alternate Price Determination Processes," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 63(03), December.

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