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Beef and milk price links in Turkey

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  • Sayed H Saghaian

    ()
    (University of Kentucky)

  • Gokhan Ozertan

    ()
    (Bogazici University)

  • Hasan Tekguc

    ()
    (Mardin Artuklu University)

Abstract

This article addresses the recent beef price spikes in Turkey, using contemporary time-series analysis. The arguments point to the impact of low milk prices that led to liquidation of dairy herds and decline of beef prices initially due to the liquidation and increased meat supply, and subsequent price increases in the next year due to decreased supply. The results revealed that dairy herd liquidation had a delayed impact of a year to 18 months on farm, wholesale, and retail beef prices. Those effects wore off over a two-year time period.

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File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I4-P245.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 33 (2013)
Issue (Month): 4 ()
Pages: 2607-2616

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Handle: RePEc:ebl:ecbull:eb-13-00568

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Keywords: dairy herd liquidation; milk and beef prices; time-series analysis; Turkey;

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  1. John M. Crespi & Tian Xia & Rodney Jones, 2010. "Market Power and the Cattle Cycle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(3), pages 685-697.
  2. David Aadland & DeeVon Bailey, 2001. "Short-Run Supply Responses in the U.S. Beef-Cattle Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 826-839.
  3. Rezitis, Anthony N. & Stavropoulos, Konstantinos S., 2009. "Greek meat supply response and price volatility in a rational expectations framework: A multivariate GARCH approach," 113th Seminar, September 3-6, 2009, Chania, Crete, Greece 58120, European Association of Agricultural Economists.
  4. Jarvis, Lovell S, 1974. "Cattle as Capital Goods and Ranchers as Portfolio Managers: An Application to the Argentine Cattle Sector," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 489-520, May/June.
  5. Zivot, Eric & Andrews, Donald W K, 1992. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(3), pages 251-70, July.
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