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Factors Affecting The Price Of Hay At A Pennsylvania Auction

Author

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  • Grisley, William
  • Stefanou, Spiro E.
  • Dickerson, Ted

Abstract

The effect that selected characteristics of a Pennsylvania hay auction has on winning bids of loads of hay are presented in this paper. Survey data from 107 buyers over the period September 1982 to April 1983 were used. Hay type, perceived quality, and the intended use of the hay were found to be significant factors in explaining prices paid per ton. Sellers could increase their revenues by producing alfalfa hay, alfalfa and legume-grass hay of higher quality, and attending marketing days with a larger number of horse feed buyers.

Suggested Citation

  • Grisley, William & Stefanou, Spiro E. & Dickerson, Ted, . "Factors Affecting The Price Of Hay At A Pennsylvania Auction," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(01), pages 1-9.
    • Handle: RePEc:ags:nejare:28930
    DOI: 10.22004/ag.econ.28930
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    File URL: https://ageconsearch.umn.edu/record/28930/files/14010048.pdf
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    References listed on IDEAS

    as
    1. Stephen H. Sosnick, 1965. "On the Distribution of Price Changes at a Bull Auction," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(5), pages 1306-1320.
    2. Steven T. Buccola, 1982. "Price Trends at Livestock Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(1), pages 63-69.
    3. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
    4. Stephen H. Sosnick, 1963. "Bidding Strategy at Ordinary Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 45(1), pages 163-182.
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    1. Blank, Steven C. & Orloff, Steve B. & Putnam, Daniel H., 2001. "Sequential Stochastic Production Decisions For A Perennial Crop: The Yield/Quality Tradeoff For Alfalfa Hay," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(01), pages 1-17, July.
    2. Dant, Madeline & Burdine, Kenneth & Mark, Tyler, 2017. "Hedonic Price Analysis of Hay Auction Prices in Kentucky," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252762, Southern Agricultural Economics Association.
    3. Hopper, Jared A. & Peterson, Hikaru Hanawa & Burton, Robert O., Jr., 2004. "Alfalfa Hay Quality and Alternative Pricing Systems," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(3), pages 1-16, December.

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