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| Pendell, Dustin L.; Schroeder, Ted C.. |
| Geographic fed cattle markets are important because cattle are bulky and perishable, and production and consumption areas are separated. These characteristics make cattle transportation costly and can contribute to segmented markets. This study uses USDA-AMS reported fed cattle market price data from five U.S. regional fed cattle markets to investigate the effects of mandatory price reporting on spatial market integration. Results indicate these markets have been, and remain, highly cointegrated after implementation of mandatory price reporting (MPR). Following introduction of mandatory price reporting, the five regional fed cattle markets have become more fully integrated (i.e., prices tend to move more closely one-for-one following introduction of MPR). |
| Tipo: Journal Article |
Palavras-chave: Cattle markets; Cointegration; Mandatory price reporting; Market integration; Regime shift; Livestock Production/Industries; Marketing. |
| Ano: 2006 |
URL: http://purl.umn.edu/8622 |
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| Hueth, Brent; Lawrence, John D.; Marcoul, Philippe. |
| Participants in U.S. markets for live cattle increasingly rely on federal grading standards to price slaughtered animals. This change is due to the growing prominence of grid pricing mechanisms that specify explicit premiums and discounts contingent on an animal's graded quality class. Although there have been recent changes in the way cattle are priced, the technology for sorting animals into quality classes has changed very little: human graders visually inspect each slaughtered carcass and call a quality and yieldgrade in a matter of seconds as the carcass passes on a moving trolley. There is anecdotal evidence of systematic bias in these called grades across time and regions within U.S. markets, and this paper empirically examines whether such... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Cattle markets; Grader bias; Quality measurement; Livestock Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/18474 |
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