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An Econometric Model of Cattle Inventories

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Abstract

Dynamic regression equations are estimated for each beef cattle breeding herd and beef cattle inventories at two levels of aggregation, the U.S. and Montana. The analysis for Montana was utilized as a guide for specification of the national equation to reduce the inference problem associated with letting the sample data help specify the model. Rational lags on average price received by farmers for calves and the ratio of fed beef to corn prices at Omaha constitute the primary explanatory variables. The equations perform exceedingly well over the sample period (1950–80) and in post-sample forecasts with the sample truncated back to 1970.

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File URL: http://dx.doi.org/10.2307/1241030
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Bibliographic Info

Paper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number archive-25.

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Length: 14 pages
Date of creation: 1984
Date of revision:
Publication status: published in American Journal of Agricultural Economics: Vol.66: Iss.2 ,131-144
Handle: RePEc:mos:moswps:archive-25

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Postal: Department of Economics, Monash University, Victoria 3800, Australia
Phone: +61-3-9905-2493
Fax: +61-3-9905-5476
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Web page: http://www.buseco.monash.edu.au/eco/
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Web: http://www.buseco.monash.edu.au/eco/research/papers/

Related research

Keywords: cattle; econometrics; inventories;

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