IDEAS home Printed from https://ideas.repec.org/a/ags/wjagec/32162.html
   My bibliography  Save this article

An Annual Model Of Purebred Breeding Bull Price

Author

Listed:
  • Greer, R. Clyde
  • Urick, J.J.

Abstract

A geometric distributed lag model was hypothesized as the structural relationship between purebred breeding bull price and economic variables determining the bull's value as a productive asset. Parameter estimates for the nonstochastic difference equation were obtained from a data sample including nineteen years of average price paid for yearling purebred Hereford bulls. Statistical results supported the hypotheses; expected bull price was responsive to calf price and cowherd inventory. An oscillating geometric adjustment pattern was found which reflected periodicity in bull replacement decisions. The general conclusion was that relevant information is rapidly incorporated into purebred bull market behavior and price adjusts quickly.

Suggested Citation

  • Greer, R. Clyde & Urick, J.J., 1988. "An Annual Model Of Purebred Breeding Bull Price," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(1), pages 1-6, July.
    • Handle: RePEc:ags:wjagec:32162
    DOI: 10.22004/ag.econ.32162
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/32162/files/13010001.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.32162?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Randal R. Rucker & Oscar R. Burt & Jeffrey T. LaFrance, 1984. "An Econometric Model of Cattle Inventories," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(2), pages 131-144.
    2. John M. Marsh, 1983. "A Rational Distributed Lag Model of Quarterly Live Cattle Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(3), pages 539-547.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Schultz, Robert W. & Marsh, John M., 1985. "Steer And Heifer Price Differences In The Live Cattle And Carcass Markets," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(1), pages 1-16, July.
    2. Ndayitwayeko, W-M. & Odhiambo, M.O. & Nyangweso, P.M. & Korir, M.K., 2012. "Determinants of Beef Meat Supply in Burundi: A Vector Error Correction Model Approach Applied to structural Nerlov Paradign," 2012 Eighth AFMA Congress, November 25-29, 2012, Nairobi, Kenya 159414, African Farm Management Association (AFMA).
    3. Chao, Hui-Ping, 1998. "Regime Switching In Us Livestock Cycles," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20824, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Aadland, David, 2004. "Cattle cycles, heterogeneous expectations and the age distribution of capital," Journal of Economic Dynamics and Control, Elsevier, vol. 28(10), pages 1977-2002, September.
    5. David Aadland & DeeVon Bailey & S. Feng, "undated". "A theoretical and empirical investigation of the supply response in the U.S. beef-cattle industry," Working Papers 2000-12, Utah State University, Department of Economics.
    6. Marsh, John M., 1991. "Derived Demand Elasticities: Marketing Margin Methods Versus An Inverse Demand Model For Choice Beef," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(2), pages 1-10, December.
    7. Bierlen, Ralph W. & Ahrendsen, Bruce L. & Dixon, Bruce L., 1998. "Impacts Of Financial Characteristics And The Boom-Bust Cycle On The Farm Inventory-Cash Flow Relationship," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(2), pages 1-15, December.
    8. Mervish, Philip & Anderson, David P. & Richardson, James W. & Outlaw, Joe L., 2008. "The Impact of Land Fragmentation on Beef Cattle Inventory," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6816, Southern Agricultural Economics Association.
    9. Xu, Yecheng & Zhang, Yaoqi & Chen, Jiquan & John, Ranjeet, 2019. "Livestock dynamics under changing economy and climate in Mongolia," Land Use Policy, Elsevier, vol. 88(C).
    10. Unknown, 1990. "Structural Change in Livestock: Causes, Implications, Alternatives," Research Institute on Livestock Pricing 232728, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    11. Buhr, Brian L., 1993. "A Quarterly Econometric Simulation Model Of The U.S. Livestock And Meat Sector," Staff Papers 13465, University of Minnesota, Department of Applied Economics.
    12. Dixon, Bruce L. & Goodwin, John w. & Pippin, Danny R., 1990. "A New Estimation Approach Using Alternately Actual and Synthesized Observations: Application to a Quarterly Cow Inventory Model," 1990 Annual meeting, August 5-8, Vancouver, Canada 270886, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. David Aadland, "undated". "The economics of cattle supply," Working Papers 2000-11, Utah State University, Department of Economics.
    14. Zhao, Huan & Hennessy, David A., 2009. "Rationalizing Time Series Differences Between Cow-Calf And Feeder Returns," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49486, Agricultural and Applied Economics Association.
    15. Yeboah, Osei-Agyeman & Ofori-Boadu, Victor & Salifou, Samaila, 2009. "A Foot and Mouth Disease Induced Model of US Excess Supply of Beef," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46053, Southern Agricultural Economics Association.
    16. Cady, David Walter, 1987. "Analysis of hedging strategies for southern Iowa stocker operations," ISU General Staff Papers 1987010108000017567, Iowa State University, Department of Economics.
    17. Stephen G. Sapp & Gary W. Williams, 1988. "The socio-economic issues of Japanese beef imports," Agribusiness, John Wiley & Sons, Ltd., vol. 4(1), pages 63-77.
    18. Adams, Philip D., 1988. "Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), pages 1-9, December.
    19. Zhao, Huan, 2011. "Four Market Studies for the Beef and Electric Power Industries," ISU General Staff Papers 201101010800001360, Iowa State University, Department of Economics.
    20. Gong, Shang-Chi, 1988. "The Taiwanese livestock and feedgrain markets and policies," ISU General Staff Papers 198801010800009845, Iowa State University, Department of Economics.

    More about this item

    Keywords

    Livestock Production/Industries;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32162. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/waeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.