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Cattle Feeder Perceptions of Livestock Mandatory Price Reporting

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  • Sarah Grunewald
  • Ted C. Schroeder
  • Clement E. Ward

Abstract

Mandatory livestock price reporting was designed to increase available price information with the intent of facilitating price discovery. Has the program been effective? This study determines how cattle feeders, a primary target of the program, feel about mandatory price reporting (MPR) effectiveness. Results from a survey of cattle feeders reveal a diversity of opinion. Producers tend to be neutral to slightly negative regarding the value of MPR. Some of the dissatisfaction appears to have been associated with unrealistic expectations. Most feedlot characteristics have little systematic relationship to the manager's perceptions regarding usefulness of MPR. Copyright 2004, Oxford University Press.

Suggested Citation

  • Sarah Grunewald & Ted C. Schroeder & Clement E. Ward, 2004. "Cattle Feeder Perceptions of Livestock Mandatory Price Reporting," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(4), pages 521-538.
  • Handle: RePEc:oup:revage:v:26:y:2004:i:4:p:521-538
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    File URL: http://hdl.handle.net/10.1111/j.1467-9353.2004.00197.x
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    1. Fuller, Stephen W. & Ruppel, Fred J. & Bessler, David A., 1990. "Effect Of Contract Disclosure On Price: Railroad Grain Contracting In The Plains," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 0(Number 2), pages 1-7, December.
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    3. Fausti, Scott W. & Keimig, R. & Diersen, Matthew A. & Kim, Han & Santos, Joseph M., 2002. "Mandatory Versus Voluntary Price Reporting: An Empirical Investigation Of The Market Transparency Controversy," Economics Staff Papers 32024, South Dakota State University, Department of Economics.
    4. Cheryl J. Wachenheim & Eric A. DeVuyst, 2001. "Strategic response to mandatory reporting legislation in the U.S. livestock and meat industries: Are collusive opportunities enhanced?," Agribusiness, John Wiley & Sons, Ltd., vol. 17(2), pages 177-195.
    5. Cason, Timothy N., 1995. "Cheap talk price signaling in laboratory markets," Information Economics and Policy, Elsevier, vol. 7(2), pages 183-204, June.
    6. Bastian, Christopher T. & Koontz, Stephen R. & Menkhaus, Dale J., 2001. "Will Mandatory Price Reporting Improve Pricing And Production Efficiency In An Experimental Market For Fed Cattle?," 2001 Conference, April 23-24, 2001, St. Louis, Missouri 18969, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
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    Cited by:

    1. Martin Beutler & Scott Fausti & Bashir Qasmi, 2007. "The Perspective of Cow/Calf Producers in the Dakotas: Mandatory Price Reporting for Slaughter Cattle," Issue Briefs 2007490, South Dakota State University, Department of Economics.
    2. Fausti, Scott W. & Qasmi, Bashir A. & Li, Jing & Diersen, Mathew A., 2010. "The Effect of the Livestock Mandatory Reporting Act on Market Transparency and Grid Price Dispersion," Agricultural and Resource Economics Review, Cambridge University Press, vol. 39(03), pages 457-467, October.
    3. Phillips, Owen R. & Menkhaus, Dale J., 2010. "The culture of private negotiation: Endogenous price anchors in simple bilateral bargaining experiments," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 705-715, December.
    4. Fausti, Scott W. & Qasmi, Bashir A. & Landblom, Douglas G. & Beutler, Martin & Johnson, Patricia S. & Gates, Roger N. & Patterson, Hubert H. & Salverson, Robin R., 2007. "Public Price Reporting, Marketing Channel Selection, and Price Discovery: The Perspective of Cow/Calf Producers in the Dakotas," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 0(Number 1), pages 1-18.
    5. Hornung, Jonathan T. & Ward, Clement E., 2005. "Positive Market Effects from a Meatpacking Plant Opening: Perceptions and Reality," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue Issue 6, pages 1-10, March.
    6. Ward, Clement E. & Vestal, Mallory K. & Lee, Yoonsuk, 2014. "Relationships between Alternative Marketing Arrangement Prices for Fed Cattle and Hogs, 2001-2013," Miscellaneous Papers 179231, Agecon Search.
    7. Fausti, Scott W. & Diersen, Matthew A. & Qasmi, Bashir A., 2007. "Public Price Reporting in the Cash Market for Live Cattle: A Spatial Market Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 2), pages 1-13, October.
    8. Fausti, Scott & Qasmi, Bashir & Diersen, Matt, 2007. "Public Reporting of Fed Cattle Grid Prices: Policy Reform Consequences," Staff Papers 070001, South Dakota State University, Department of Economics.
    9. Phillips, Owen R. & Menkhaus, Dale J., 2006. "The Culture of Private Negotiation: Price Drift in Bilateral Bargaining," 2006 Annual meeting, July 23-26, Long Beach, CA 21168, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Lee, Yoonsuk & Ward, Clement E. & Brorsen, B. Wade, 2010. "Relationships among Prices across Alternative Marketing Arrangements for Fed Cattle and Hogs," 2010 Annual Meeting, February 6-9, 2010, Orlando, Florida 56282, Southern Agricultural Economics Association.

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