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Effect of Risk Aversion on Feeder Cattle Prices

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  • Lee, Jung-Hee
  • Brorsen, B. Wade

Abstract

This paper determines the effects of cattle feeders' risk aversion on feeder cattle prices using pen data of Kansas feedlots. Higher profit risk results in lower feeder cattle prices. The elasticity of feeder cattle price with respect to profit risk was small (-0.013). The risk elasticity estimated here is similar to risk elasticities in previous studies and thus, the use of pen-level data does not seem to add much to the study of risk.

Suggested Citation

  • Lee, Jung-Hee & Brorsen, B. Wade, 1994. "Effect of Risk Aversion on Feeder Cattle Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(2), pages 386-392, December.
    • Handle: RePEc:cup:jagaec:v:26:y:1994:i:02:p:386-392_02
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    Cited by:

    1. Mitchell, James L. & Tonsor, Glynn T., "undated". "Effect of Price Expectations and Market Volatility on Sale Rates at Superior Livestock Video Auctions," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258425, Agricultural and Applied Economics Association.
    2. Marsh, John M. & Brester, Gary W., 1999. "Technological Change In The U.S. Beef And Pork Sectors: Impacts On Farm-Wholesale Marketing Margins And Livestock Prices," Research Discussion Papers 29242, Montana State University, Department of Agricultural Economics and Economics, Trade Research Center.
    3. Rahman, Shaikh Mahfuzur & Dorfman, Jeffrey H. & Turner, Steven C., 2004. "A Bayesian Approach to Optimal Cross-Hedging of Cottonseed Products Using Soybean Complex Futures," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(2), pages 1-16, August.

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