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Concentration in Beef Packing and Slaughter Cattle Pricing

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  • Love, H. Alan
  • Capps, Oral, Jr.
  • Williams, Gary W.
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    Abstract

    We empirically investigate the effects of beef packer concentration and size efficiencies, packer procurement and pricing methods, and other market variables and quality characteristics on the prices paid by packers for slaughter cattle. We find that packers pay less for fed cattle in more concentrated regions. However, we find that concentration is only one of numerous market factors determining fed cattle prices and less important than many. Quality variables controlled by sellers, like cattle type, are more important in determining the price paid by packers than packer concentration, size economies, procurement methods, or other variables outside seller control.

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    File URL: http://purl.umn.edu/90493
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    Bibliographic Info

    Paper provided by Texas A&M University, Agribusiness, Food, and Consumer Economics Research Center in its series Reports with number 90493.

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    Date of creation: Jul 2009
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    Handle: RePEc:ags:tamagr:90493

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    Postal: 450 Blocker Building, 2124 TAMU, College Station, TX 77843-2124
    Phone: (979) 845-5913
    Fax: (979) 845-3140
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    Web page: http://afcerc.tamu.edu/
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    Related research

    Keywords: Cattle Pricing; Beef Packing; Slaughter Cattle; Cattle; Demand and Price Analysis; Livestock Production/Industries;

    References

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    1. Azzam, Azzeddine M. & Schroeter, John R., 1991. "Implications Of Increased Regional Concentration And Oligopsonistic Coordination In The Beef Packing Industry," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(02), December.
    2. Azzeddine Azzam, 1996. "Testing the Monopsony-Inefficiency Incentive for Backward Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 585-590.
    3. James N. Brown & Harvey S. Rosen, 1982. "On the Estimation of Structural Hedonic Price Models," NBER Technical Working Papers 0018, National Bureau of Economic Research, Inc.
    4. Azzam, Azzeddine M. & Schroeter, John R., 1995. "The Tradeoff Between Oligopsony Power and Cost Efficiency in Horizontal Consolidation: An Example from Beef Packing," Staff General Research Papers 5062, Iowa State University, Department of Economics.
    5. Bresnahan, T.F & Reiss, P.C., 1989. "Entry And Competition In Concentrated Markets," Papers 151, Stanford - Studies in Industry Economics.
    6. Love, H. Alan & Burton, Diana M., 1999. "A Strategic Rationale For Captive Supplies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(01), July.
    7. Tian Xia & Richard J. Sexton, 2004. "The Competitive Implications of Top-of-the-Market and Related Contract-Pricing Clauses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 124-138.
    8. Koontz, Stephen R. & Garcia, Philip, 1997. "Meat-Packer Conduct In Fed Cattle Pricing: Multiple-Market Oligopsony Power," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(01), July.
    9. Lucas, Robert E B, 1975. "Hedonic Price Functions," Economic Inquiry, Western Economic Association International, vol. 13(2), pages 157-78, June.
    10. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
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