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The phenomenon of cyclical fluctuations on the pork market - global perspective

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  • Stępień Sebastian

    (Ph.D. Poznań University of Economics and Business)

  • Polcyn Jan

    (Ph.D. Stanisław Staszic University of Applied Sciences in Piła)

Abstract

The aim of publication was to recognize the characteristics and morphology of today’s hog cycle. The hypothesis was that known in the economy since the second half of the nineteenth century hog cycle is also a typical phenomenon in the contemporary economy. It is also claimed that cyclical supply changes of pig meat are not synchronized between countries. Fluctuations in production are country-specific and are influenced by local conditions. While in the case of pork prices there is a characteristic broad convergence of cycle between countries. Development of world trade exchange and economic integration of groups of countries lead to uniformity of cyclical changes in prices. The study included the world economy and eight selected countries with the largest share in the global production and/or foreign trade. The time range of empirical analysis (analyzing fluctuations in supply and prices) concerned the period 1991-2012.

Suggested Citation

  • Stępień Sebastian & Polcyn Jan, 2016. "The phenomenon of cyclical fluctuations on the pork market - global perspective," Management, Sciendo, vol. 20(1), pages 382-396, May.
  • Handle: RePEc:vrs:manmen:v:20:y:2016:i:1:p:382-396:n:26
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    References listed on IDEAS

    as
    1. Chavas, Jean-Paul, 1999. "On The Economic Rationality Of Market Participants: The Case Of Expectations In The U.S. Pork Market," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(1), pages 1-19, July.
    2. Mordecai Ezekiel, 1938. "The Cobweb Theorem," The Quarterly Journal of Economics, Oxford University Press, vol. 52(2), pages 255-280.
    3. Shonkwiler, J. Scott & Spreen, Thomas H., 1986. "Statistical Significance and Stability of the Hog Cycle," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 18(2), pages 227-234, December.
    4. Shepherd, Geoffrey, 1942. "Controlling Corn and Hog Supplies and Prices," Technical Bulletins 169220, United States Department of Agriculture, Economic Research Service.
    5. Harold F. Breimyer, 1959. "Emerging Phenomenon: A Cycle in Hogs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 41(4), pages 760-768.
    6. Arthur A. Harlow, 1960. "The Hog Cycle and the Cobweb Theorem," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 42(4), pages 842-853.
    7. Gerald W. Dean & Earl O. Heady, 1958. "Changes in Supply Response and Elasticity for Hogs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(4), pages 845-860.
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