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| Hornung, Jonathan T.; Ward, Clement E.. |
| Economic theory suggests that adding a competitive buyer to a market should have positive effects on competition and prices, ceteris paribus. An additional buyer increases market demand, shifting demand to the right, and expands the number of active buyers, reducing average market shares of existing buyers while intensifying bidding competition. Whether or not these positive impacts occur in reality is an empirical question. The largest pork processor in Canada, Maple Leaf Foods Inc., opened a 45,000 head/week hog processing facility in August 1999 in Brandon, Manitoba. The plant opened during a period of expanding hog production in Canada, of increasing hog exports to the United States, and of increasingly tight processing capacity in the United States... |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Demand and Price Analysis. |
| Ano: 2005 |
URL: http://purl.umn.edu/46022 |
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| Hornung, Jonathan T.; Ward, Clement E.. |
| Previous research has estimated price effects of meat packing plant closings and openings. However, none have been done for plants opening or closing during the last 20 years ago when concentration in meatpacking increased rapidly. Plant openings and closings affect industry slaughtering capacity. Many analysts contribute the lack of processing capacity to handle the large supply of hogs in 1998 a major factor why spot market hog prices plummeted to unprecedented lows. Just eight months after the capacity constraint in slaughter hogs, Maple Leaf Foods opened a hog processing plant in Brandon, Manitoba. A second but opposite event occurred in the beef industry in an area of concentrated cattle feeding and meatpacking. On Christmas day, 2000, the ConAgra fed... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Meatpacking; Fed cattle; Slaughter hogs; Marketing; Prices; Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/18981 |
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| Ward, Clement E.; Hornung, Jonathan T.. |
| Captive supplies have been a contentious issue in the livestock industry for fifteen years and the subject of both theoretical and empirical research. In 2001, mandatory price reporting was implemented. One objective by its proponents was to increase the amount of information available on captive supplies. This paper examines data now available as a result of mandatory price reporting to determine what additional information is available compared to previously. Second, several models were specified and estimated to determine the impacts captive supplies had on fed cattle prices in the two years following implementation of mandatory price reporting. Models showed mixed results. There was a consistent negative effect on cash market prices from formula priced... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/19016 |
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| Hornung, Jonathan T.; Ward, Clement E.. |
| Producers, researchers, and policy makers have an interest in market effects from meatpacking plant closings and openings. This paper presents results from a study taking a dual approach to determining impacts from an anticipated hog slaughtering plant opening and an unexpected fed cattle slaughtering plant closing. Secondary data are used in a price differences and partial adjustment model. Primary data are used in a logit model. Results indicate a clearer price effect from the plant opening than the plant closing. Primary data provide additional insight into the dynamics related to the two plant events. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Industrial Organization. |
| Ano: 2004 |
URL: http://purl.umn.edu/36268 |
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