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Japanese Import Demand for U.S. Beef and Pork: Effects on U.S. Red Meat Exports and Livestock Prices

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  • Miljkovic, Dragan
  • Marsh, John M.
  • Brester, Gary W.

Abstract

Japanese import demand for U.S. beef and pork products and the effects on domestic livestock prices are econometrically estimated. Japan is the most important export market for U.S. beef and pork products. Results indicate foreign income, exchange rates, and protectionist measures are statistically significant. The comparative statics quantify the effects of recent economic volatility. For example, the 1995-1998 depreciation in the Japanese yen (39%) reduced U.S. slaughter steer and hog prices by $1.29 per cwt and $0.99 per cwt, respectively, while the 1994-1998 reduction in tariffs (14%) increased slaughter steer and hog prices by $0.49 per cwt and $0.33 per cwt, respectively. Livestock producers will continue to have a vested interest in Asian trade liberalization policies.

Suggested Citation

  • Miljkovic, Dragan & Marsh, John M. & Brester, Gary W., 2002. "Japanese Import Demand for U.S. Beef and Pork: Effects on U.S. Red Meat Exports and Livestock Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 34(3), pages 501-512, December.
  • Handle: RePEc:cup:jagaec:v:34:y:2002:i:03:p:501-512_00
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    References listed on IDEAS

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    1. Brester, Gary W. & Wohlgenant, Michael K., 1997. "Impacts Of Gatt/Uruguay Round Trade Negotiations On U.S. Beef And Cattle Prices," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(1), pages 1-12, July.
    2. Kenen, Peter B & Rodrik, Dani, 1986. "Measuring and Analyzing the Effects of Short-term Volatility in Real Exchange Rates," The Review of Economics and Statistics, MIT Press, vol. 68(2), pages 311-315, May.
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    9. Brester, Gary W. & Marsh, John M., 1998. "Impacts Of The Uruguay Round Trade Agreement On U.S. Beef And Cattle Prices," Policy Issues Papers 29169, Montana State University, Department of Agricultural Economics and Economics, Trade Research Center.
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    1. repec:zbw:iamodp:269555 is not listed on IDEAS
    2. Jin, Y. & Jin, S., 2018. "The Heterogeneous Impact of Exchange Rate Volatility on Agricultural Export: Evidence from Chinese Food Firm-level Data," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277197, International Association of Agricultural Economists.
    3. Miljkovic, Dragan & Marsh, John M. & Brester, Gary W., 2004. "Effects of Japanese Import Demand on U.S. Livestock Prices: Reply," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 36(1), pages 257-260, April.
    4. Miljkovic, Dragan & Jin, Hyun, 2006. "Import Demand for Quality in the Japanese Beef Market," Agricultural and Resource Economics Review, Cambridge University Press, vol. 35(2), pages 276-284, October.
    5. Perekhozhuk, Oleksandr & Glauben, Thomas, 2017. "Russian food and agricultural import ban: The impact on the domestic market for cattle, pork and poultry," IAMO Discussion Papers 269555, Institute of Agricultural Development in Transition Economies (IAMO).
    6. Nogueira, Lia & Chouinard, Hayley H., 2006. "The Effects of Reducing Sanitary and Phytosanitary (SPS) Barriers to Trade on the Washington State Apple Industry," 2006 Annual meeting, July 23-26, Long Beach, CA 21433, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Panagiotou, Dimitrios & Stavrakoudis, Athanassios, 2018. "A stochastic frontier analysis approach for estimating market power in the major U.S. meat export markets," MPRA Paper 96128, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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