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Evaluating the Farmer’s-Share-of-the-Retail-Dollar Statistic

Author

Listed:
  • Brester, Gary W.
  • Marsh, John M.
  • Atwood, Joseph A.

Abstract

Conventional wisdom appears to support the thesis that declines in USDA’s farmer’s share-of-the-retail-dollar (FS) statistics are indicators of low returns to agricultural production. We estimate changes in cattle and hog FS statistics and their relationship with producer surplus (PS) for changes in various exogenous factors. The method accounts for correlations among structural parameter estimates while simulating multivariate distributions of joint parameter realizations. The simulations indicate that relationships between FS and PS depend on the source of exogenous shocks. The lack of informational content in FS statistics suggests these data should not be used for policy purposes.

Suggested Citation

  • Brester, Gary W. & Marsh, John M. & Atwood, Joseph A., 2009. "Evaluating the Farmer’s-Share-of-the-Retail-Dollar Statistic," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(2), pages 1-24, August.
  • Handle: RePEc:ags:jlaare:54543
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    File URL: http://ageconsearch.umn.edu/record/54543/files/JARE_Aug09__01R_pp213-236.pdf
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    References listed on IDEAS

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    1. George C. Davis & Maria Cristina Espinoza, 1998. "A Unified Approach to Sensitivity Analysis in Equilibrium Displacement Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 868-879.
    2. repec:oup:revage:v:26:y:2004:i:2:p:287-302. is not listed on IDEAS
    3. Elitzak, Howard, 1999. "Food Cost Review, 1950-97," Agricultural Economics Reports 34053, United States Department of Agriculture, Economic Research Service.
    4. A. M. Azzam, 1992. "Testing The Competitiveness Of Food Price Spreads," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(2), pages 248-256.
    5. Marsh, John M., 2007. "Cross-Sector Relationships Between the Corn Feed Grains and Livestock and Poultry Economies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(1), pages 1-22, April.
    6. Ward, Clement E., 2002. "A Review of Causes for and Consequences of Economic Concentration in the U.S. Meatpacking Industry," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 3, pages 1-28, January.
    7. Azzeddine M. Azzam & John R. Schroeter, 1995. "The Tradeoff between Oligopsony Power and Cost Efficiency in Horizontal Consolidation: An Example from Beef Packing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(4), pages 825-836.
    8. Gary W. Brester & Michael A. Boland, 2004. "The Rocky Mountain Sugar Growers' Cooperative: "Sweet" or "Sugar-Coated" Visions of the Future?," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(2), pages 287-302.
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    Cited by:

    1. Fousekis, Panos & Katrakilidis, Constantinos & Trachanas, Emmanouil, 2016. "Vertical price transmission in the US beef sector: Evidence from the nonlinear ARDL model," Economic Modelling, Elsevier, vol. 52(PB), pages 499-506.

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    Keywords

    Agricultural Finance;

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