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Determinants of Price Differentials in Oklahoma Value-Added Feeder Cattle Auctions

  • Williams, Galen S.
  • Raper, Kellie Curry
  • DeVuyst, Eric A.
  • Peel, Derrell S.
  • McKinney, Doug

Many value-added practices cannot be observed by feeder cattle buyers. Third-party verification can decrease market inefficiency associated with this asymmetric information. We evaluate the effectiveness of a verification program, the Oklahoma Quality Beef Network, in increasing received prices. We estimate the value of verification, weaning, vaccinating, certification and phenotypic traits of feeder cattle at Oklahoma auctions. Results indicate that the OQBN program adds $2.39 to $5.74/cwt. Vaccinating calves adds $1.44/cwt, and weaning calves adds $2.05/cwt. Differential values for lot size, average weight, hide color, frame size, conditioning, Brahman influence, gender and other characteristics are also reported.

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Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 37 (2012)
Issue (Month): 1 (April)

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Handle: RePEc:ags:jlaare:122309
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  1. McCluskey, Jill J., 2000. "A Game Theoretic Approach To Organic Foods: An Analysis Of Asymmetric Information And Policy," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(1), April.
  2. Schroeder, Ted C. & Mintert, James R. & Brazle, Frank & Grunewald, Orlen C., 1988. "Factors Affecting Feeder Cattle Price Differentials," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(01), July.
  3. Avent, R. Keith & Ward, Clement E. & Lalman, David L., 2004. "Market Valuation of Preconditioning Feeder Calves," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(01), April.
  4. DeeVon Bailey & Monte C. Peterson & B. Wade Brorsen, 1991. "A Comparison of Video Cattle Auction and Regional Market Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(2), pages 465-475.
  5. Bulut, Harun & Lawrence, John D., 2006. "The Value of Third-Party Certification of Preconditioning Claims at Iowa Feeder Cattle Auctions," Staff General Research Papers 12683, Iowa State University, Department of Economics.
  6. Dhuyvetter, Kevin C., 2004. "Preconditioning Beef Calves: Are Expected Premiums Sufficient To Justify The Practice?," 2004 Annual Meeting, June 30-July 2, 2004, Honolulu, Hawaii 36196, Western Agricultural Economics Association.
  7. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
  8. Williams, Brian R. & Raper, Kellie Curry & DeVuyst, Eric A. & Peel, Derrell S. & Lalman, David L. & Richards, Chris & Doye, Damona G., 2012. "Demographic Factors Affecting the Adoption of Multiple Value-Added Practices by Oklahoma Cow-Calf Producers," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119743, Southern Agricultural Economics Association.
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