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Beef and milk price links in Turkey

Author

Listed:
  • Sayed H. Saghaian

    (University of Kentucky)

  • Gokhan Ozertan

    (Bogazici University)

  • Hasan Tekguc

    (Mardin Artuklu Univeristy)

Abstract

This article addresses the recent red meat price spikes in Turkey, using contemporary time-series analysis. The arguments point to the impact of low milk prices that led to liquidation of dairy herds and decline of beef prices initially due to the liquidation and increased meat supply, and subsequent price increases in the next year due to decreased supply. The results revealed that dairy herd liquidation had a delayed impact of a year to 18 months on farm, wholesale, and retail beef prices. Those effects wore off over a two year time period.

Suggested Citation

  • Sayed H. Saghaian & Gokhan Ozertan & Hasan Tekguc, 2012. "Beef and milk price links in Turkey," Working Papers 2012-03, Mardin Artuklu Univeristy, Department of Economics.
  • Handle: RePEc:mrd:martwp:2012-03
    Note: Research Note
    as

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    References listed on IDEAS

    as
    1. Jarvis, Lovell S, 1974. "Cattle as Capital Goods and Ranchers as Portfolio Managers: An Application to the Argentine Cattle Sector," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 489-520, May/June.
    2. David Aadland & DeeVon Bailey, 2001. "Short-Run Supply Responses in the U.S. Beef-Cattle Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 826-839.
    3. Zivot, Eric & Andrews, Donald W K, 2002. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 25-44, January.
    4. Anthony N. Rezitis & Konstantinos S. Stavropoulos, 2012. "Greek meat supply response and price volatility in a rational expectations framework: a multivariate GARCH approach," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 39(2), pages 309-333, April.
    5. John M. Crespi & Tian Xia & Rodney Jones, 2010. "Market Power and the Cattle Cycle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(3), pages 685-697.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    dairy herd liquidation; price adjustment; red meat price spike; Turkey;

    JEL classification:

    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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