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Poultry-Related Price Transmissions and Structural Change Since the 1950's

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Author Info

  • Babula, Ronald A.
  • Bessler, David A.
  • Schluter, Gerald E.

Abstract

We use a vector autoregression analysis of corn price, farm poultry price, and consumer poultry (meat) price for two periods, a mid-1950's to late 1960's period and an early 1970's to mid-1980's period. We explored the dynamic aspects of the estimated price transmission models of these two periods. Statistically significant evidence suggests a change in the dynamics of these price transmissions between the two periods. Price-increasing shocks to corn production are now more likely to be passed on to consumers more quickly as prices increase. Evidence also suggests that, since the early period, corn has become an increasingly important factor in explaining poultry prices, and substantial market change has occurred in the poultry industry at the retail level.

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Bibliographic Info

Article provided by United States Department of Agriculture, Economic Research Service in its journal Journal of Agricultural Economics Research.

Volume (Year): (2)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:ags:uersja:139018

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Related research

Keywords: Corn/poultry price dynamics; vector autregression; Tiao-Box likelihood ratio tests; Kloek-Van Dijk Monte Carlo methods; industry structural change; Crop Production/Industries; Livestock Production/Industries;

References

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  1. Kloek, Tuen & van Dijk, Herman K, 1978. "Bayesian Estimates of Equation System Parameters: An Application of Integration by Monte Carlo," Econometrica, Econometric Society, vol. 46(1), pages 1-19, January.
  2. David A. Bessler, 1984. "An Analysis of Dynamic Economic Relationships: An Application to the U.S. Hog Market," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 32(1), pages 109-124, 03.
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Citations

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Cited by:
  1. Ronald A. Babula & Robert F. J. Remain, 1990. "Dynamic corn-broiler price relationships: The cases of the United States and Canada," Agribusiness, John Wiley & Sons, Ltd., vol. 6(4), pages 371-385.
  2. Babula, Ronald A. & Romain, Robert F.J., 1991. "Canada's Broiler Supply Management Program: A Shield From U.S. Price Volatility," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 4.
  3. Babula, Ronald A. & Bessler, David A., 1990. "The Corn-Egg Price Transmission Mechanism," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(02), December.

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