Intertemporal Price Adjustments In The Beef Market: A Reduced Form Analysis Of Weekly Data
AbstractAn intertemporal reduced form model is estimated for boxed beef, carcass, and slaughter prices on a weekly basis. The results indicate that prices respond jointly to changes in economic information within weeks t and t Â– 1, supporting time-series studies showing farm and wholesale prices to be nearly instantaneously related. However, the existence of market uncertainty entails significant intertemporal lags, revealed by prices stabilizing 9-14 weeks subsequent to a market shock. The model results imply that postponing marketings of fed cattle to capitalize on expected price advantages would be risky and that selling cattle carcass grade and weight is more favorable when prices respond to increases in beef production.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 14 (1989)
Issue (Month): 02 (December)
Demand and Price Analysis; Livestock Production/Industries;
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- Milton S. Boyd & B. Wade Brorsen, 1985. "Dynamic Relationship of Weekly Prices In the United States Beef and Pork Marketing Channels," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 33(3), pages 331-342, November.
- Heien, Dale & Pompelli, Greg, 1988. "The Demand For Beef Products: Cross-Section Estimation Of Demographic And Economic Effects," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(01), July.
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