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Does Muscle Matter? An Economic Evaluation of Live Cattle Characteristics

Author

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  • Williams, Christine H.
  • Rolfe, John
  • Longworth, John W.

Abstract

The Queensland Livestock Market Reporting Service (QLMRS) was established in 1980 by the livestock and Meat Authority of Queensland. Weekly reports on the major live cattle auctions in Queensland indicate the prices of different types of cattle, categorised by their age, sex, weight, fat score and type of feed. Previous research has suggested that differences in these characteristics account for only some of the price variation observed at cattle auctions. This paper investigates other characteristics not included in the QLMRS market reports which may be important in determining the price of cattle. Data on the standard QLMRS characteristics and on other potentially important characteristics have been collected by the authors for a large number of lots of live cattle sold at two different auction sites in Queensland. This paper analyses the contribution both of characteristics regularly reported by the QMLRS and of other characteristics not reported by the QLMRS to explaining the variation in prices observed at these auctions. Hedonic price models are estimated which provide estimates of the premiums and discounts associated with different levels of the characteristics for which data were collected. The paper highlights the limitations of current market reports and indicates that the inclusion of muscle score may add considerably to the information content of these reports. More generally, the analysis suggests that liveweight auctions may not represent an efficient price discovery mechanism for cattle.

Suggested Citation

  • Williams, Christine H. & Rolfe, John & Longworth, John W., 1993. "Does Muscle Matter? An Economic Evaluation of Live Cattle Characteristics," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 61(02-1), pages 1-21, August.
    • Handle: RePEc:ags:remaae:9596
    DOI: 10.22004/ag.econ.9596
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    Citations

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    Cited by:

    1. Griffith, G.R. & Mounter, S.W. & Villano, R.A., 2013. "Muscle Score Premiums and Discounts in Wholesale Beef Carcases," Papers 234407, University of Melbourne, Melbourne School of Land and Environment.
    2. Hufton, Charlie & Griffith, Garry R. & Mullen, John D. & Farrell, Terence C., 2009. "The influence of weight and fat on lamb prices, revisited," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 17, pages 1-31.
    3. M.A. Jabbar, 1998. "Buyer preferences for sheep and goats in southern Nigeria: A hedonic price analysis," Agricultural Economics, International Association of Agricultural Economists, vol. 18(1), pages 21-30, January.
    4. Fleming, E. & Griffith, G. & Mounter, S. & Villano, R., 2018. "The value of muscle score in beef cattle auction markets," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277334, International Association of Agricultural Economists.
    5. Jabbar, M. A. & Diedhiou, M. L., 2003. "Does breed matter to cattle farmers and buyers?: Evidence from West Africa," Ecological Economics, Elsevier, vol. 45(3), pages 461-472, July.
    6. Walpole, Sandra C. & Lockwood, Michael, 1999. "Influence of remnant native vegetation on rural land values: a hedonic pricing application," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 125032, Australian Agricultural and Resource Economics Society.

    More about this item

    Keywords

    Livestock Production/Industries;

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