Did the Voluntary Price Reporting System Fail to Provide Price Transparency in the Cash Market for Dressed Steers: Evidence from South Dakota
AbstractThe information value of the former USDA voluntary price reporting system is investigated for dressed weight slaughter steers. The ability of the former system to promote market transparency and price discovery in the cash market is evaluated with state level mandatory price reporting data collected from September 1999 to April 2001. The empirical framework evaluates the informational value of public price reports according to the criteria established in the market integration literature. The empirical results indicate that in the cash market for dressed weight steers, in South Dakota and Nebraska the former voluntary price reporting system did foster market transparency and aided in the price discovery process.
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Bibliographic InfoPaper provided by South Dakota State University, Department of Economics in its series Staff Papers with number 030001.
Length: 21 pages
Date of creation: Jun 2003
Date of revision:
grid pricing; price discovery; price reporting;
Other versions of this item:
- Fausti, Scott W. & Diersen, Matthew A., 2003. "Did The Voluntary Price Reporting System Fail To Provide Price Transparency In The Cash Market For Dressed Steers: Evidence From South Dakota," 2003 Annual Meeting, July 13-16, 2003, Denver, Colorado 35971, Western Agricultural Economics Association.
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
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