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| Fausti, Scott W.; Feuz, Dillon M.; Wagner, John J.. |
| The U.S. beef industry has been struggling with the erosion of domestic market share relative to pork and poultry for several decades. Many factors may have contributed to this shrinkage, including the industrial organization of the domestic beef industry. A discussion of the institutional structure of beef production in the U.S., and the cash market for fed cattle, as possible contributing factors to the decline in beef's competitive position is provided. In the literature, a consensus agrees that average pricing of fed cattle in the cash market has contributed to beef's diminished competitive position. One solution to the average pricing problem which has gained widespread support is the idea of implementing a value based marketing system (VBMS); to... |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 1998 |
URL: http://purl.umn.edu/34320 |
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| Feuz, Dillon M.; Fausti, Scott W.; Wagner, John J.. |
| Incomplete information generates uncertainty for market participants in the slaughter-cattle market. Buyer and seller behavior in the presence of that uncertainty is examined. Statistically significant risk premiums are charged by packers when buying slaughter cattle on either a live- or dressed-weight basis compared to buying on a grade-and-yield basis. Pratt-Arrow risk-aversion coefficients are calculated for buyers and these remain constant over all marketing methods. Sellers market cattle under all three marketing methods, suggesting producers' attitudes toward risk (risk-aversion coefficients) vary. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1995 |
URL: http://purl.umn.edu/30935 |
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