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The Demand for Livestock by the U.S. Meat Processing Industry

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  • Boonsaeng, Tullaya
  • Wohlgenant, Michael K.

Abstract

This paper studies the demand of domestic and imported livestock by the U.S. meat processing industry. Two types of meats are analyzed: slaughter cattle and hogs. Static and dynamic inverse input demand models are estimated. The static inversed input demand model performed better than the dynamic inversed input demand models. Calculated own price elasticities (flexibilities) and cross price elasticities (flexibilities) indicate that the demand for imported livestock by the meat processing industry is very sensitive to the change in the domestic price for livestock. The demand of domestic slaughter livestock is less sensitive to the change in imported livestock prices.

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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2006 Annual meeting, July 23-26, Long Beach, CA with number 21120.

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Date of creation: 2006
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Handle: RePEc:ags:aaea06:21120

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Keywords: Agribusiness;

References

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  1. Herath, Deepananda P.B. & Weersink, Alfons & Carpentier, Chantal Line, 2003. "Spatial Dynamics Of The Livestock Sector In The United States: Do Environmental Regulations Matter?," 2003 Annual meeting, July 27-30, Montreal, Canada 22059, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
  3. Ferreira, Wilder N., 2003. "Analysis of the Meat Processing Industry in the United States," Extension Economic Reports 112915, Clemson University, Department of Agricultural and Applied Economics.
  4. Reziti, Ioanna & Ozanne, Adam, 1999. "Testing Regularity Properties in Static and Dynamic Duality Models: The Case of Greek Agriculture," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 26(4), pages 461-77, December.
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  7. Melton, Brian & Huffman, Wallace, 1995. "Beef and Pork Packing Costs and Input Demands: Effects of Unionization and Technology," Staff General Research Papers 5043, Iowa State University, Department of Economics.
  8. Schroeter, John R., 1988. "Estimating the Degree of Market Power in the Beef Packing Industry," Staff General Research Papers 11114, Iowa State University, Department of Economics.
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  10. Mattson, Jeremy W. & Wachenheim, Cheryl J. & Koo, Won W. & Petry, Timothy A., 2001. "Canadian Exports Of Livestock And Meat To The United States," Agribusiness & Applied Economics Report 23610, North Dakota State University, Department of Agribusiness and Applied Economics.
  11. Shumway, C. Richard, 1995. "Recent Duality Contributions In Production Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(01), July.
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  13. Paresh Kumar Narayan, 2005. "The saving and investment nexus for China: evidence from cointegration tests," Applied Economics, Taylor & Francis Journals, vol. 37(17), pages 1979-1990.
  14. John M. Marsh, 2003. "Impacts of Declining U.S. Retail Beef Demand on Farm-Level Beef Prices and Production," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(4), pages 902-913.
  15. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  16. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
  17. J. Stephen Clark & K. Gary Grant, 2000. "Popper and Production: Testing Parametric Restrictions in Systems under Nonstationarity," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 48(1), pages 15-25, 03.
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