IDEAS home Printed from https://ideas.repec.org/p/isu/genstf/202011270800001778.html
   My bibliography  Save this paper

A Descriptive Analysis of the COVID‐19 Impacts on U.S. Pork, Turkey, and Egg Markets

Author

Listed:
  • Hayes, Dermot J.
  • Schulz, Lee L.
  • Hart, Chad E.
  • Jacobs, Keri L.

Abstract

The Novel Coronavirus SARS‐CoV2 (COVID‐19) severely disrupted the U.S. food supply chain. In its initial aftermath, and as we contemplate a potential re‐ignition, the food supply chain industries, researchers, and policy makers search for evidence, causes, and consequences. This paper uses publicly available data on the pork and egg industries and a survey of the turkey industry as a first step to document the impact of COVID‐19. Researchers can learn from the experiences in industries where disruptions evolve differently in the face of simultaneous supply‐ and demand‐side shocks and that stem from differences in structures of the supply chains. This early evidence is used to motivate future research needs and highlight opportunities for industry investments in resiliency strategies.

Suggested Citation

  • Hayes, Dermot J. & Schulz, Lee L. & Hart, Chad E. & Jacobs, Keri L., 2020. "A Descriptive Analysis of the COVID‐19 Impacts on U.S. Pork, Turkey, and Egg Markets," ISU General Staff Papers 202011270800001778, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genstf:202011270800001778
    as

    Download full text from publisher

    File URL: https://dr.lib.iastate.edu/server/api/core/bitstreams/0619ceb5-ef5f-4520-b0ac-33da7d2c9293/content
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Ronald W. Cotterill, 2001. "Neoclassical explanations of vertical organization and performance of food Industries," Agribusiness, John Wiley & Sons, Ltd., vol. 17(1), pages 33-57.
    2. John M. Crespi & Tina L. Saitone & Richard J. Sexton, 2012. "Competition in U.S. Farm Product Markets: Do Long-Run Incentives Trump Short-Run Market Power?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 34(4), pages 669-695.
    3. Wolfram Schlenker & Sofia B. Villas-Boas, 2009. "Consumer and Market Responses to Mad Cow Disease," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(4), pages 1140-1152.
    4. Martinez, Stephen W., 2002. "A Comparison of Vertical Coordination in the U.S. Poultry, Egg, and Pork Industries," Agricultural Information Bulletins 33773, United States Department of Agriculture, Economic Research Service.
    5. Pendell, Dustin L. & Leatherman, John & Schroeder, Ted C. & Alward, Gregory S., 2007. "The Economic Impacts of a Foot-And-Mouth Disease Outbreak: A Regional Analysis," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 39(s1), pages 19-33, October.
    6. John D. Lawrence & V. James Rhodes & Glenn A. Grimes & Marvin L. Hayenga, 1997. "Vertical coordination in the US pork industry: Status, motivations, and expectations," Agribusiness, John Wiley & Sons, Ltd., vol. 13(1), pages 21-31.
    7. David A. Hennessy, 1996. "Information Asymmetry as a Reason for Food Industry Vertical Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1034-1043.
    8. Franken, Jason R.V. & Parcell, Joseph L., 2012. "Evaluation of Market Thinness for Hogs and Pork," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(4), pages 1-16, November.
    9. Schlenker, Wolfram & Villas-Boas, Sofia, 2009. "AJAE appendix for ‘Consumer and Market Responses to Mad-Cow Disease’," American Journal of Agricultural Economics APPENDICES, Agricultural and Applied Economics Association, vol. 91(4), pages 1-12, March.
    10. Giancarlo Moschini & Karl D. Meilke, 1992. "Production Subsidy and Countervailing Duties in Vertically Related Markets: The Hog-Pork Case Between Canada and the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(4), pages 951-961.
    11. Dustin L Pendell & Thomas L Marsh & Keith H Coble & Jayson L Lusk & Sara C Szmania, 2015. "Economic Assessment of FMDv Releases from the National Bio and Agro Defense Facility," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-22, June.
    12. Hennessy, David A., 1996. "Information Asymmetry As a Reason for Vertical Integration," Staff General Research Papers Archive 10422, Iowa State University, Department of Economics.
    13. John M. Crespi & Tina L. Saitone, 2018. "Are Cattle Markets the Last Frontier? Vertical Coordination in Animal-Based Procurement Markets," Annual Review of Resource Economics, Annual Reviews, vol. 10(1), pages 207-227, October.
    14. Jill E. Hobbs, 2020. "Food supply chains during the COVID‐19 pandemic," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 171-176, June.
    15. Lawrence, John D. & Rhodes, V. James & Hayenga, Marvin L., 1997. "Vertical Coordination in the U.S. Pork Industry: Status Motivations, and Expectations," Staff General Research Papers Archive 5003, Iowa State University, Department of Economics.
    16. Levan Elbakidze & Linda Highfield & Michael Ward & Bruce A. McCarl & Bo Norby, 2009. "Economics Analysis of Mitigation Strategies for FMD Introduction in Highly Concentrated Animal Feeding Regions," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(4), pages 931-950, December.
    17. Lawrence, John D. & Rhodes, V. James & Hayenga, Marvin L., 1997. "Vertical Coordination in the U.S. Pork Industry: Current Status, Motivations, and Expectations," Staff General Research Papers Archive 5006, Iowa State University, Department of Economics.
    18. Schroeder, Ted C. & Ward, Clement E., 2000. "Price Discovery Issues And Trends In Cattle And Hog Markets," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36418, Western Agricultural Economics Association.
    19. Ted C. Schroeder, 1988. "Price linkages between wholesale and retail pork cuts," Agribusiness, John Wiley & Sons, Ltd., vol. 4(4), pages 359-369.
    20. Edward J. Balistreri & Chad E. Hart & Dermot J. Hayes & Minghao Li & Lee Schulz & David A. Swenson & Wendong Zhang & John M. Crespi, 2018. "The Impact of the 2018 Trade Disruptions on the Iowa Economy," Center for Agricultural and Rural Development (CARD) Publications 18-pb25, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    21. Martinez, Stephen W., 2002. "Vertical Coordination Of Marketing Systems: Lessons From The Poultry, Egg, And Pork Industries," Agricultural Economic Reports 34051, United States Department of Agriculture, Economic Research Service.
    22. Schroeder, Ted C. & Pendell, Dustin L. & Sanderson, Michael W. & Mcreynolds, Sara, 2015. "Economic Impact Of Alternative Fmd Emergency Vaccination Strategies In The Midwestern United States," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 47(1), pages 47-76, February.
    23. Peter J. Barry & Sonka Steven T. & Kaouthar Lajili, 1992. "Vertical Coordination, Financial Structure, and the Changing Theory of the Firm," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(5), pages 1219-1225.
    24. Schlenker, Wolfram & Villas-Boas, Sofia B, 2008. "Consumer and Market Responses to Mad-Cow Disease," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7995j7cm, Department of Agricultural & Resource Economics, UC Berkeley.
    25. Peña-Lévano, Luis & Melo, Grace & Burney, Shaheer, 2020. "Theme Overview: COVID-19 and the Agriculture Industry: Labor, Supply Chains, and Consumer Behavior," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 35(3), September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bina, Justin D. & Tonsor, Glynn T. & Schulz, Lee L. & Hahn, William F., 2022. "Regional and plant-size impacts of COVID-19 on beef processing," Food Policy, Elsevier, vol. 108(C).
    2. Padilla, Samantha & Schulz, Lee L & Vaiknoras, Kate & MacLachlan, Matthew, 2021. "COVID-19 Working Paper: Changes in Regional Hog Slaughter During COVID-19," Administrative Publications 327340, United States Department of Agriculture, Economic Research Service.
    3. Vaiknoras, Kate & Hahn, William & Padilla, Samantha & Valcu-Lisman, Adriana & Grossen, Grace, 2022. "COVID-19 Working Paper: COVID-19 and the U.S. Meat and Poultry Supply Chains," Administrative Publications 327338, United States Department of Agriculture, Economic Research Service.
    4. Brenda Cardoso & Luiza Cunha & Adriana Leiras & Paulo Gonçalves & Hugo Yoshizaki & Irineu de Brito Junior & Frederico Pedroso, 2021. "Causal Impacts of Epidemics and Pandemics on Food Supply Chains: A Systematic Review," Sustainability, MDPI, vol. 13(17), pages 1-28, August.
    5. Holly Cook, 2021. "The Role of State-inspected Slaughter in the U.S. Pork Supply Chain: Survey and Analysis," Center for Agricultural and Rural Development (CARD) Publications 21-pb34, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    6. Erdal Erol & Sayed H. Saghaian, 2022. "The COVID-19 Pandemic and Dynamics of Price Adjustment in the U.S. Beef Sector," Sustainability, MDPI, vol. 14(8), pages 1-14, April.
    7. Ken McEwan & Lynn Marchand & Max Zongyuan Shang, 2021. "The Canadian pork industry and COVID‐19: A year of resilience," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 225-232, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hayes Dermot & Jacobs Keri & Schulz Lee & Crespi John, 2023. "Resilience of U.S. Cattle and Beef Sectors: Lessons from COVID-19," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 21(1), pages 53-67, May.
    2. Dustin L Pendell & Thomas L Marsh & Keith H Coble & Jayson L Lusk & Sara C Szmania, 2015. "Economic Assessment of FMDv Releases from the National Bio and Agro Defense Facility," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-22, June.
    3. Li, Xiaokang & Guo, Hongdong & Li, Lin, 2016. "Contract Farming in China: Perspectives of Smallholders in Vegetable Production," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235573, Agricultural and Applied Economics Association.
    4. Mungandi, Sepiso & Conforte, Daniel & Shadbolt, Nicola M., 2012. "Integration of Smallholders in Modern Agri-food Chains: Lessons from the KASCOL Model in Zambia," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 15(3), pages 1-22, September.
    5. Chen‐Ti Chen & John M. Crespi & William Hahn & Lee L. Schulz & Fawzi Taha, 2020. "Long‐run impacts of trade shocks and export competitiveness: Evidence from the U.S. BSE event," Agricultural Economics, International Association of Agricultural Economists, vol. 51(6), pages 941-958, November.
    6. Li, X. & Guo, H. & Li, L., 2018. "Do Product Attributes affect Farmer's Contract Farming Participation? Evidence from Vegetable Production in China," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277154, International Association of Agricultural Economists.
    7. Germano, Fabrizio & Meier, Martin, 2013. "Concentration and self-censorship in commercial media," Journal of Public Economics, Elsevier, vol. 97(C), pages 117-130.
    8. Dang, Jingqi & Xu, Wei, 2018. "The Impact of Product-Harm Crisis on International Trade:Evidence from the 2008 Dairy Scandal in China," 2018 Annual Meeting, August 5-7, Washington, D.C. 273915, Agricultural and Applied Economics Association.
    9. repec:ags:aaea22:335852 is not listed on IDEAS
    10. Rosa Ferrer Zarzuela & Helena Perrone, 2017. "Consumers’ costly responses to product-harm crises," Economics Working Papers 1571, Department of Economics and Business, Universitat Pompeu Fabra.
    11. Taylor, Mykel & Klaiber, H. Allen & Kuchler, Fred, 2016. "Changes in U.S. consumer response to food safety recalls in the shadow of a BSE scare," Food Policy, Elsevier, vol. 62(C), pages 56-64.
    12. Rosa Ferrer & Helena Perrone, 2023. "Consumers’ Costly Responses to Product-Harm Crises," Management Science, INFORMS, vol. 69(5), pages 2639-2671, May.
    13. Matthew Houser & Berna Karali, 2020. "How Scary Are Food Scares? Evidence from Animal Disease Outbreaks," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 42(2), pages 283-306, June.
    14. Erkan Rehber, 2000. "Vertical Coordination In The Agro-Food Industry And Contract Farming: A Comparative Study Of Turkey And The Usa," Food Marketing Policy Center Research Reports 052, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
    15. Thomas Kopp & Richard J. Sexton, 2021. "Farmers, Traders, and Processors: Buyer Market Power and Double Marginalization in Indonesia," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(2), pages 543-568, March.
    16. Rebecca L. C. Taylor & Scott Kaplan & Sofia B. Villas‐Boas & Kevin Jung, 2019. "Soda Wars: The Effect Of A Soda Tax Election On University Beverage Sales," Economic Inquiry, Western Economic Association International, vol. 57(3), pages 1480-1496, July.
    17. Barbos, Andrei & Hartman, John, 2023. "Reputational effects on third-party agents: A study of the market for fine and rare wines," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 359-372.
    18. Chantal Toledo & Sofia Berto Villas-Boas, 2019. "Safe or Not? Consumer Responses to Recalls with Traceability," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 41(3), pages 519-541, September.
    19. Ollinger, Michael & Houser, Matthew, 2020. "Ground beef recalls and subsequent food safety performance," Food Policy, Elsevier, vol. 97(C).
    20. Dai, Jiawu & Li, Xun & Wang, Xiuqing & Yu, Qiushuo & Mao, Xiaojie, 2015. "Food Scares, Market Power and Farm-Retail Price Spread: The Case of Pork Market in China," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205121, Agricultural and Applied Economics Association.
    21. Philip Garland Gayle & Jin Wang & Shengnan Fang, 2023. "The Organic food price premium and its susceptibility to news media coverage: evidence from the US milk industry," Applied Economics, Taylor & Francis Journals, vol. 55(28), pages 3296-3315, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:isu:genstf:202011270800001778. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Curtis Balmer (email available below). General contact details of provider: https://edirc.repec.org/data/deiasus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.