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Fed Cattle Spatial Transaction Price Relationships

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  • Schroeder, Ted C.

Abstract

Delineation of geographic markets for fed cattle is essential in monitoring price behavior and determining the extent of spatial price parity. This study uses transaction data from 28 U.S. fed cattle slaughter plants to determine the extent of the geographic market for fed cattle. Results indicate a national market for fed cattle with prices across most plants cointegrated. In addition, price discovery originates predominantly at plants located in Nebraska and typically one-third of the total price adjustment to spatial integration occurs in one day.

Suggested Citation

  • Schroeder, Ted C., 1996. "Fed Cattle Spatial Transaction Price Relationships," 1981-1999 Conference Archive 285655, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    • Handle: RePEc:ags:nc8191:285655
    DOI: 10.22004/ag.econ.285655
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    File URL: https://ageconsearch.umn.edu/record/285655/files/confp22-96.pdf
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    2. Svanidze, Miranda & Götz, Linde, 2019. "Determinants of spatial market efficiency of grain markets in Russia," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 89, pages 1-10.
    3. Svanidze, Miranda & Götz, Linde, 2019. "Spatial market efficiency of grain markets in Russia: Implications of high trade costs for export potential," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 21, pages 60-68.
    4. Muth, Mary K. & Liu, Yanyan & Koontz, Stephen R. & Lawrence, John D., 2008. "Differences in Prices and Price Risk Across Alternative Marketing Arrangements Used in the Fed Cattle Industry," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(01), pages 1-18, April.
    5. Mattos, Fabio & Silveira, Rodrigo L. F., 2015. "The Effects of Brazilian Second (Winter) Corn Crop on Price Seasonality, Basis Behavior and Integration to International Market," 2015 Conference, April 20-21, 2015, St. Louis, Missouri 285840, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    6. Blank, Steven C. & Saitone, Tina & Sexton, Richard & Kalotia, Kabir & Forero, Larry & Nader, Glenn, "undated". "Location and distance effects on western calf and yearling prices," 2011 Annual Meeting, June 29-July 1, 2011, Banff, Alberta,Canada 291744, Western Agricultural Economics Association.
    7. Raper, Kellie Curry & Cheney, Laura Martin & Punjabi, Meeta, 2000. "Assessing The Impact Of A Hog Slaughter Plant Closing: The Thorn Apple Valley Case," Staff Paper Series 11658, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    8. Li, Yunhan & Li, Wenying, 2017. "Examining Dynamically Changing Cattle Market Linkages with Inventory as Controlled Transitions," 2017 Conference, April 24-25, 2017, St. Louis, Missouri 285878, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    9. Schulz, Lee L. & Schroeder, Ted C. & Ward, Clement E., 2011. "Trade-Related Policy and Canadian-U.S. Fed Cattle Transactions Basis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), pages 1-13, August.
    10. Li, Yunhan & Li, Wenying & Dorfman, Jeffrey H., "undated". "Examining Dynamically Changing Cattle Market Linkages with Inventory as Controlled Transitions," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 259151, Agricultural and Applied Economics Association.
    11. Franken, Jason & Parcell, Joe, 2010. "Impact of Mandatory Price Reporting on Hog Market Integration," 2010 Conference, April 19-20, 2010, St. Louis, Missouri 285331, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    12. Fabio L. Mattos & Rodrigo Lanna Franco da Silveira, 2018. "The Expansion of the Brazilian Winter Corn Crop and Its Impact on Price Transmission," IJFS, MDPI, vol. 6(2), pages 1-17, April.
    13. Pendell, Dustin L. & Schroeder, Ted C., 2006. "Impact of Mandatory Price Reporting on Fed Cattle Market Integration," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(3), pages 1-12, December.
    14. Cain, JewelwayneS. & Parcell, Joe L., 2014. "Soybean Oil Spatial Price Dynamics," 2014 Conference, April 21-22, 2014, St. Louis, Missouri 285824, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    15. Blank, Steven C. & Saitone, Tina L. & Sexton, Richard J., 2014. "Seller-Offered Forward Contracts: An Additional Benefit to Cattle Producers from Satellite Video Auctions," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162323, Southern Agricultural Economics Association.
    16. Xu, Xiaojie, 2014. "Price Discovery in U.S. Corn Cash and Futures Markets: The Role of Cash Market Selection," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169809, Agricultural and Applied Economics Association.
    17. Blank, Steven C. & Saitone, Tina L. & Sexton, Richard J., 2016. "Calf and Yearling Prices in the Western United States: Spatial, Quality, and Temporal Factors in Satellite Video Auctions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 41(3), pages 1-23.
    18. Parcell, Joe & Franken, Jason, 2024. "Determinants of Beef Market Price Dynamics," 2024 Conference, April 22-23, 2024, St. Louis, Missouri 379010, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    19. Lewis, Karen E. & Tonsor, Glynn T., . "The Impact of Ethanol Production on Spatial Grain Market Relationships," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 14(4), pages 1-14.
    20. Xiaojie Xu, 2018. "Cointegration and price discovery in US corn cash and futures markets," Empirical Economics, Springer, vol. 55(4), pages 1889-1923, December.
    21. Sungill Han & Chanjin Chung & Prasanna Surathkal, 2017. "Impacts of Increased Corn Ethanol Production on Price Asymmetry and Market Linkages in Fed Cattle Markets," Agribusiness, John Wiley & Sons, Ltd., vol. 33(3), pages 378-402, June.
    22. Dennis Sánchez-Navarro, 2012. "Una propuesta metodológica para la definición de mercados geográficos relevantes," Estudios Económicos SIC 10492, Superintendencia de Industria y Comercio.
    23. Franken, Jason R.V. & Parcell, Joe L. & Sykuta, Michael E. & Fulcher, Christopher L., 2005. "Market Integration: Case Studies of Structural Change," Agricultural and Resource Economics Review, Cambridge University Press, vol. 34(2), pages 163-172, October.

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