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Technological Change In The U.S. Beef And Pork Sectors: Impacts On Farm-Wholesale Marketing Margins And Livestock Prices

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  • Marsh, John M.
  • Brester, Gary W.
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    Abstract

    Real livestock prices and farm-wholesale marketing margins have steadily declined over the past 20 years. Many studies have examined the effects of increasing packer concentration on these declines. However, most have generally failed to account directly for technological change in livestock production and red meat slaughtering. We estimate reduced form models for beef and pork farm-wholesale marketing margins and cattle and hog prices that specifically include measures of technological change. Empirical results indicate that meat packing technology has reduced real margins and technological change embodied in cattle and hog production accounts for substantial declines in real slaughter cattle and hog prices. When technological change is explicitly considered, we find that increasing packer concentration: (1) does not affect real farm-wholesale marketing margins, (2) positively affects real slaughter cattle prices, and (3) does not affect real slaughter hog prices.

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    Bibliographic Info

    Paper provided by Montana State University, Department of Agricultural Economics and Economics in its series Trade Research Center Research Discussion Papers with number 29242.

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    Date of creation: 1999
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    Handle: RePEc:ags:motrdp:29242

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    Related research

    Keywords: livestock prices; marketing margins; packer concentration; technological change; Marketing; Research and Development/Tech Change/Emerging Technologies; D4;

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    1. Dunn, James E. & Heien, Dale, 1985. "The Demand For Farm Output," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(01), July.
    2. John M. Marsh, 1999. "The Effects of Breeding Stock Productivity on the U.S. Beef Cattle Cycle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(2), pages 335-346.
    3. Lustgarten, Steven, 1979. "Gains and Losses from Concentration: A Comment," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 183-90, April.
    4. Schroeder, Ted C. & Ward, Clement E. & Mintert, James R. & Peel, Derrell S., 1997. "Value-Based Pricing of Fed Cattle: Challenges and Research Agenda," 1997 Annual Meeting, July 13-16, 1997, Reno\Sparks, Nevada 35837, Western Agricultural Economics Association.
    5. Donald W. Anderson & Brian C. Murray & Jackqueline L. Teague & Richard C. Lindrooth, 1998. "Exit from the Meatpacking Industry: A Microdata Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 96-106.
    6. Eales, James S., 1994. "The Inverse Lewbel Demand System," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(01), July.
    7. Lee, Jung-Hee & Brorsen, B. Wade, 1994. "Effect Of Risk Aversion On Feeder Cattle Prices," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December.
    8. Brester, Gary W. & Musick, Douglas C., 1995. "The Effect Of Market Concentration On Lamb Marketing Margins," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
    9. Brester, Gary W. & Schroeder, Ted C. & Mintert, James R., 1997. "Challenges to the Beef Industry," Choices, Agricultural and Applied Economics Association, vol. 12(4).
    10. James Kliebenstein & Peter F. Orazem, 1999. "The Structure of Wages and Benefits in the U.S. Pork Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 144-163.
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