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Beef and milk price links in Turkey

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Author Info

  • Gokhan Ozertan

    (Bogazici University)

  • Sayed H. Saghaian

    (University of Kentucky)

  • Hasan Tekguc

    (Mardin Artuklu Univeristy)

Abstract

This article addresses the recent red meat 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

Paper provided by Mardin Artuklu Univeristy, Department of Economics in its series Working Papers with number 2012-03.

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Length: 7 pages
Date of creation: Nov 2012
Date of revision:
Publication status: published (Economics Bulletin (2013), Vol. 33 No. 4 pp. 2607-2616)
Handle: RePEc:mrd:martwp:2012-03

Note: Research Note
Contact details of provider:
Postal: Mardin Artuklu Univeristy Sosyal Bilimler Enstitusu Diyarbakir Yolu, Yenisehir Mardin, 47100 Turkey
Email:
Web page: http://iktisat.artuklu.edu.tr/
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Related research

Keywords: dairy herd liquidation; price adjustment; red meat price spike; Turkey;

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  1. Zivot, Eric & Andrews, Donald W K, 2002. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 25-44, January.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
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