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Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance

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  • Hueth, Brent
  • Lawrence, John D.

Abstract

The declining share of beef in total U.S. meat consumption has motivated industry-wide efforts to improve average beef quality through more effective coordination among the various market participants. Increased use of explicit grid pricing mechanisms over the last decade represents initial efforts at improved coordination. More recent efforts include animal-specific carcass data collection, with subsequent transmission to feeders and the relevant cow/calf operations, and improved source verification procedures aimed at (among other things) reducing the overall cost of medical treatment for live animals. None of these organizational innovations is costless, and indeed a number of significant barriers must be overcome before more widespread adoption of such practices takes place. This paper takes a detailed look at one organization’s attempts to overcome some of these barriers, and provides a qualitative assessment of this and other potential organizational responses.

Suggested Citation

  • Hueth, Brent & Lawrence, John D., 2006. "Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 24(1).
  • Handle: RePEc:ags:jloagb:57703
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    References listed on IDEAS

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    1. Forristall, Cody & May, Gary J. & Lawrence, John D., 2002. "Assessing The Cost Of Beef Quality," 2002 Conference, April 22-23, 2002, St. Louis, Missouri 19060, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    2. Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
    3. Hueth, Brent & Hennessy, David A., 2002. "Contracts and Risk in Agriculture: Conceptual and Empirical Foundations," Staff General Research Papers Archive 5324, Iowa State University, Department of Economics.
    4. Hayenga, Marvin L., 2000. "Meat Packer Vertical Integration and Contract Linkages in the Beef and Pork Industries: An Economic Perspective," Staff General Research Papers Archive 10564, Iowa State University, Department of Economics.
    5. Holmstrom, Bengt, 1999. "The Firm as a Subeconomy," Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(1), pages 74-102, April.
    6. Forristall, Cody & May, Gary J. & Lawrence, John D., 2002. "Assessing the Cost of Beef Quality," Staff General Research Papers Archive 2101, Iowa State University, Department of Economics.
    7. Lawrence, John D. & Forristall, Cody & May, Gary, 2002. "Assessing the Cost of Beef Quality," Staff General Research Papers Archive 10467, Iowa State University, Department of Economics.
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    Cited by:

    1. Scott W. Fausti & Zhiguang Wang & Bashir A. Qasmi & Matthew A. Diersen, 2014. "Risk and marketing behavior: pricing fed cattle on a grid," Agricultural Economics, International Association of Agricultural Economists, vol. 45(5), pages 601-612, September.
    2. Philippe Marcoul & John Lawrence, 2007. "Grader Bias in Cattle Markets? Evidence from Iowa," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(4), pages 890-903.

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