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Estimating The Value Of Source Verification Of Feeder Cattle

Author

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  • Lawrence, John D.
  • Yeboah, Godfred

Abstract

Source-verified (SV) feeder cattle auctions were held in Bloomfield, Iowa, each October, November, and December from 1997-2000. This study compares price data from these SV auctions to traditional auctions at the same location to determine whether a premium exists for SV feeder cattle. Hedonic pricing models were estimated to evaluate the price effects of lot characteristics, market forces, and type of market (SV versus regular sale). The SV cattle were sorted and pooled into large lots. The larger lot size, consistent with early research, earned large price premiums. After accounting for lot size, the SV premium for lighter cattle (< 650/600-pound steers/heifers) was estimated at $1.30/cwt, and was significant. The SV premium over and above lot size was not significant for heavier feeder cattle.

Suggested Citation

  • Lawrence, John D. & Yeboah, Godfred, 2002. "Estimating The Value Of Source Verification Of Feeder Cattle," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 20(2).
  • Handle: RePEc:ags:jloagb:14722
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    File URL: http://purl.umn.edu/14722
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    Cited by:

    1. Smith, Jenna M., 2007. "Hedonic Pricing of Bulls," SS-AAEA Journal of Agricultural Economics, Agricultural and Applied Economics Association.
    2. Pendell, Dustin L. & Tonsor, Glynn T. & Dhuyvetter, Kevin C. & Brester, Gary W. & Schroeder, Ted C., 2013. "Evolving beef export market access requirements for age and source verification," Food Policy, Elsevier, vol. 43(C), pages 332-340.
    3. Williams, Brian R. & DeVuyst, Eric A. & Peel, Derrell S. & Raper, Kellie Curry, 2014. "Reducing Self-Selection Bias in Feeder Cattle Premium Estimates Using Matched Sampling," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(1), April.
    4. Hueth, Brent & Lawrence, John D., 2006. "Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance," ISU General Staff Papers 200601010800001013, Iowa State University, Department of Economics.

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