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Dynamics of Price-Cost Margins in the U.S. Meat Industry

Author

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  • Chidmi, Benaissa
  • Fadiga, Mohamadou L.

Abstract

This study analyses the stochastic behavior of price-cost margins (PCMs) in the U.S. meat industry. It, first, develops and estimates a vertical relationship economic model to derive PCMs in the U.S. meat industry (Beef, Pork, and Poultry). Second it analyzes the behavior of PCMs by decomposing them into their seasonal, cyclical, and trend components using the state-space and the Kalman filtering methods. Price-cost margins in the U.S. meat industry are governed by two common trends and two common cycles. The study also found cyclical variability of PCMs is the highest with chicken, secular variability of PCMs is the highest with pork, while seasonal variability of PCMs is the highest with beef.

Suggested Citation

  • Chidmi, Benaissa & Fadiga, Mohamadou L., 2007. "Dynamics of Price-Cost Margins in the U.S. Meat Industry," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon 9745, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea07:9745
    DOI: 10.22004/ag.econ.9745
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    Cited by:

    1. Charles F. Nicholson & Mark W. Stephenson, 2015. "Milk Price Cycles in the U.S. Dairy Supply Chain and Their Management Implications," Agribusiness, John Wiley & Sons, Ltd., vol. 31(4), pages 507-520, October.

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