IDEAS home Printed from https://ideas.repec.org/a/ags/jloagb/131320.html
   My bibliography  Save this article

Cow-Calf Producer Interest in Retained Ownership

Author

Listed:
  • Franken, Jason R.V.
  • Parcell, Joseph L.
  • Patterson, David J.
  • Smith, Michael F.
  • Poock, Scott

Abstract

The beef industry’s share of domestic meat demand continues to decline, as increasing vertical coordination in pork and poultry contribute to these industries’ ability to offer convenient, consistent, and less expensive products. For such vertical coordination to be effective, incentives must be properly aligned so that those responsible for making the most important investments for system profit-ability are appropriately compensated. This study demonstrates that cow-calf producers who invest in quality registered cattle and those who are interested in incorporating feedlot and carcass data into herd management decisions are also more interested in retained ownership.

Suggested Citation

  • Franken, Jason R.V. & Parcell, Joseph L. & Patterson, David J. & Smith, Michael F. & Poock, Scott, 2010. "Cow-Calf Producer Interest in Retained Ownership," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 28(1), pages 1-11.
    • Handle: RePEc:ags:jloagb:131320
    DOI: 10.22004/ag.econ.131320
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/131320/files/JAB_Spr2010__04.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.131320?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
    2. Van Tassell, Larry W. & McNeley, Scott M. & MacNeil, Michael D. & Short, Robert E. & Grings, Elaine E., 1997. "Retained Ownership of Beef Cattle When Considering Production and Price Risk," 1997 Annual Meeting, July 13-16, 1997, Reno\ Sparks, Nevada 35876, Western Agricultural Economics Association.
    3. Gillespie, Jeffrey M. & Basarir, Aydin & Schupp, Alvin R., 2004. "Beef Producer Choice in Cattle Marketing," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 22(2), pages 1-13.
    4. Brian P. Cozzarin & Randall E. Westgren, 2000. "Rent Sharing in Multi-Site Hog Production," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 25-37.
    5. V. James Rhodes, 1995. "The Industrialization of Hog Production," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 17(2), pages 107-118.
    6. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    7. Charles R. Knoeber & Walter N. Thurman, 1995. ""Don't Count Your Chickens...": Risk and Risk Shifting in the Broiler Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 486-496.
    8. Martinez, Stephen W., 2002. "A Comparison of Vertical Coordination in the U.S. Poultry, Egg, and Pork Industries," Agricultural Information Bulletins 33773, United States Department of Agriculture, Economic Research Service.
    9. Jeffrey J. Reimer, 2006. "Vertical Integration in the Pork Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(1), pages 234-248.
    10. John M. Marsh, 1999. "The Effects of Breeding Stock Productivity on the U.S. Beef Cattle Cycle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(2), pages 335-346.
    11. Scott W. Fausti & Dillon M. Feuz, 1995. "Production Uncertainty and Factor Price Disparity in the Slaughter Cattle Market: Theory and Evidence," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 533-540.
    12. Martinez, Stephen W., 2002. "Vertical Coordination Of Marketing Systems: Lessons From The Poultry, Egg, And Pork Industries," Agricultural Economic Reports 34051, United States Department of Agriculture, Economic Research Service.
    13. Ted C. Schroeder & Allen M. Featherstone, 1990. "Dynamic Marketing and Retention Decisions for Cow-Calf Producers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(4), pages 1028-1040.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jason R.V. Franken & Joost M.E. Pennings & Philip Garcia, 2017. "Risk attitudes and the structure of decision†making: evidence from the Illinois hog industry," Agricultural Economics, International Association of Agricultural Economists, vol. 48(1), pages 41-50, January.
    2. Pope, Kelsey Frasier & Schroeder, Ted C. & Langemeier, Michael R. & Herbel, Kevin L., 2011. "Cow-Calf Producer Risk Preference Impacts on Retained Ownership Strategies," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(4), pages 497-513, November.
    3. Lewis, Karen & Griffith, Andrew & Boyer, Christopher & Rhinehart, Justin, 2015. "Returns to Retained Ownership through Finishing for Beef Cattle Originating from Tennessee," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196620, Southern Agricultural Economics Association.
    4. McLeod, Elizabeth & Jensen, Kimberly & Griffith, Andrew & Lewis, Karen, 2017. "Tennessee Beef Producers' Willingness to Participate in a Tennessee Branded Beef Program," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252649, Southern Agricultural Economics Association.
    5. Tang, Minfeng & Lewis, Karen E. & Griffith, Andrew P. & Boyer, Christopher N., 2016. "Identifying Factors that Impact Returns to Retained Ownership of Cattle," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229766, Southern Agricultural Economics Association.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Franken, Jason R.V. & Pennings, Joost M.E. & Garcia, Philip, 2009. "Do Transaction Costs and Risk Preferences Influence Marketing Arrangements in the Illinois Hog Industry?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(2), pages 1-19, August.
    2. Hueth, Brent & Ligon, Ethan & Dimitri, Carolyn, 2007. "AJAE Appendix: Agricultural Contracts: Data and Research Needs," American Journal of Agricultural Economics APPENDICES, Agricultural and Applied Economics Association, vol. 89(5), pages 1-7, December.
    3. Kostas Karantininis & Jesper T. Graversen, 2008. "Relational contracts and adaptation: application to a pork producer contract," Agribusiness, John Wiley & Sons, Ltd., vol. 24(3), pages 342-354.
    4. Maples, Joshua G. & Lusk, Jayson L. & Peel, Derrell S., 2019. "Technology and evolving supply chains in the beef and pork industries," Food Policy, Elsevier, vol. 83(C), pages 346-354.
    5. MacDonald, James M. & Perry, Janet E. & Ahearn, Mary Clare & Banker, David E. & Chambers, William & Dimitri, Carolyn & Key, Nigel D. & Nelson, Kenneth E. & Southard, Leland W., 2004. "Contracts, Markets, and Prices: Organizing the Production and Use of Agricultural Commodities," Agricultural Economic Reports 34013, United States Department of Agriculture, Economic Research Service.
    6. Pope, Kelsey Frasier & Schroeder, Ted C. & Langemeier, Michael R. & Herbel, Kevin L., 2011. "Cow-Calf Producer Risk Preference Impacts on Retained Ownership Strategies," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(4), pages 497-513, November.
    7. Hu, Y. & Hendrikse, G.W.J., 2007. "Allocation of Decision Rights in Fruit and Vegetable Contracts in China," ERIM Report Series Research in Management ERS-2007-077-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    8. Steven Y. Wu, 2014. "Adapting Contract Theory to Fit Contract Farming," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(5), pages 1241-1256.
    9. Elanor Starmer & Timothy A. Wise, "undated". "Living High on the Hog: Factory Farms, Federal Policy, and the Structural Transformation of Swine Production," GDAE Working Papers 07-04, GDAE, Tufts University.
    10. Lewis, Karen & Griffith, Andrew & Boyer, Christopher & Rhinehart, Justin, 2015. "Returns to Retained Ownership through Finishing for Beef Cattle Originating from Tennessee," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196620, Southern Agricultural Economics Association.
    11. Tang, Minfeng & Lewis, Karen E. & Griffith, Andrew P. & Boyer, Christopher N., 2016. "Identifying Factors that Impact Returns to Retained Ownership of Cattle," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229766, Southern Agricultural Economics Association.
    12. Reimer, Jeffrey J., 2004. "A Theory Of Packer Self Production In The Swine Industry," 2004 Annual meeting, August 1-4, Denver, CO 19936, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Bitsch, Linda & Hanf, Jon H., 2022. "The perfect match: interpersonal relationships and their impact on chain management," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 25(3), March.
    14. Kaplow, Louis & Shapiro, Carl, 2007. "Antitrust," Handbook of Law and Economics, in: A. Mitchell Polinsky & Steven Shavell (ed.), Handbook of Law and Economics, edition 1, volume 2, chapter 15, pages 1073-1225, Elsevier.
    15. Cécile Cézanne, 2012. "Berle and Means," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 7, Edward Elgar Publishing.
    16. Scott Gehlbach & Konstantin Sonin & Ekaterina Zhuravskaya, 2010. "Businessman Candidates," American Journal of Political Science, John Wiley & Sons, vol. 54(3), pages 718-736, July.
    17. Peter G. Klein & Michael E. Sykuta, 2010. "Editors’ Introduction," Chapters, in: Peter G. Klein & Michael E. Sykuta (ed.), The Elgar Companion to Transaction Cost Economics, chapter 1, Edward Elgar Publishing.
    18. Schmid, Andreas, 2007. "Incentive Compatibility and Efficiency in the contractual Insurer-Provider Relationship: Economic Theory and practical Implications: The Case of North Carolina," MPRA Paper 23311, University Library of Munich, Germany, revised 2008.
    19. Surajeet Chakravarty & W. Bentley MacLeod, 2006. "Construction Contracts (or “How to Get the Right Building at the Right Price?”)," CESifo Working Paper Series 1714, CESifo.
    20. Oliver Hart, 2013. "Noncontractible Investments and Reference Points," Games, MDPI, vol. 4(3), pages 1-20, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:jloagb:131320. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aeaggea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.