Beef Feedlot Supply Response in Australia
Reliable estimates of demand and supply elasticities are required for industry-wide evaluations of new agricultural technologies, new primary product promotion campaigns or new policy initiatives impacting on agricultural industries. In developing an equilibrium displacement model of the Australian beef industry, recent supply elasticities for feedlot beef in Australia were not available. The issue of consistency of throughput of feedlot beef and utilisation of feedlot capacity is also an important industry concern. Feedlot survey data were used to estimate supply response functions for feedlot beef. The results indicated that price response was much more inelastic than shown in previous work, reflecting perhaps the industrialisation of the industry in recent years and the significant level of foreign investment. The price of fed cattle plays the largest role in influencing decisions to place cattle on feed. The price of feed is also a major input affecting utilisation of feedlot capacity, however the price of feeder steers plays a lesser role in feedlot decision making than previously thought.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Buffier, B.D. & Freebairn, John W., 1975. "Response Function Estimates For Lot Fed Beef," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 43(01), March.
- 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.
- Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
When requesting a correction, please mention this item's handle: RePEc:ags:auagre:132076. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.