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Dynamics Of Regional Fed Cattle Prices

Author

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  • Bailey, DeeVon
  • Brorsen, B. Wade

Abstract

The dynamic relationship between four regional cash prices for fed (slaughter) cattle is investigated using time series analysis and causality tests. The results indicate that price adjustments to new information take about one week. Texas Panhandle price also was determined to dominate the price discovery process. Regional prices also were found to be interdependent. This suggests that increasing regional meat packer concentration may not grant meat packers increased regional market power in their pricing practices.

Suggested Citation

  • Bailey, DeeVon & Brorsen, B. Wade, 1985. "Dynamics Of Regional Fed Cattle Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 0(Number 1), pages 1-8, July.
  • Handle: RePEc:ags:wjagec:32512
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    File URL: http://ageconsearch.umn.edu/record/32512/files/10010126.pdf
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    References listed on IDEAS

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    1. Rausser, Gordon C & Carter, Colin, 1983. "Futures Market Efficiency in the Soybean Complex," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 469-478, August.
    2. Nerlove, Marc & Grether, David M. & Carvalho, José L., 1979. "Analysis of Economic Time Series," Elsevier Monographs, Elsevier, edition 1, number 9780125157506 edited by Shell, Karl, August.
    3. TjOstheim, Dag, 1981. "Granger-causality in multiple time series," Journal of Econometrics, Elsevier, vol. 17(2), pages 157-176, November.
    4. Geweke, John & Meese, Richard & Dent, Warren, 1983. "Comparing alternative tests of causality in temporal systems : Analytic results and experimental evidence," Journal of Econometrics, Elsevier, vol. 21(2), pages 161-194, February.
    5. Danthine, Jean-Pierre, 1977. "Martingale, market efficiency and commodity prices," European Economic Review, Elsevier, vol. 10(1), pages 1-17.
    6. Brorsen, B Wade & Chavas, Jean-Paul & Grant, Warren R, 1985. "A Dynamic Analysis of Prices in the U.S. Rice Marketing Channel," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(4), pages 362-369, October.
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    Citations

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    Cited by:

    1. Schroeder, Ted C., 1997. "Fed Cattle Spatial Transactions Price Relationships," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 0(Number 2), pages 1-16, December.
    2. Dries, Mark A. & Unnevehr, Laurian J., 1990. "Influence of trade policies on price integration in the world beef market," Agricultural Economics, Blackwell, vol. 4(1), pages 73-89, April.
    3. Bailey, DeeVon & Brorsen, B. Wade, 1989. "Price Asymmetry In Spatial Fed Cattle Markets," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 0(Number 2), pages 1-7, December.
    4. Schroeder, Ted C. & Goodwin, Barry K., 1990. "Regional Fed Cattle Price Dynamics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 0(Number 1), pages 1-12, July.
    5. Zapata, Hector O. & Hudson, Michael A. & Garcia, Philip, 1988. "Identifying Causal Relationships Between Nonstationary Stochastic Processes: An Examination Of Alternative Approaches In Small Samples," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 0(Number 2), pages 1-14, December.
    6. Franken, Jason R.V. & Parcell, Joseph L. & Tonsor, Glynn T., 2011. "Impact of Mandatory Price Reporting on Hog Market Integration," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 0(Number 2), pages 1-13, May.
    7. Kesavan, T. & Aradhyula, Satheesh V. & Johnson, Stanley R., 1992. "Dynamics And Price Volatility In Farm-Retail Livestock Price Relationships," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 0(Number 2), pages 1-14, December.
    8. Walburger, Allan M. & Foster, Kenneth A., 1997. "Assessing The Relationship Between Market Factors And Regional Price Dynamics In U.S. Cattle Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 0(Number 1), pages 1-12, July.
    9. Pendell, Dustin L. & Schroeder, Ted C., 2006. "Impact of Mandatory Price Reporting on Fed Cattle Market Integration," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 0(Number 3), pages 1-12, December.
    10. Kalyn Coatney & Jesse Tack, 2014. "The Impacts of an Antitrust Investigation: A Case Study in Agriculture," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 44(4), pages 423-441, June.
    11. Williams, Christine H. & Bewley, Ronald A., 1993. "Price Arbitrage Between Queensland Cattle Auctions," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 0(Number 1), pages 1-23, April.

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