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TESTING FOR SYMMETRY IN PRICE TRANSMISSION: AN EXTENSION OF THE SHILLER LAG STRUCTURE WITH AN APPLICATION TO FRESH TOMATOES AgEcon
Parrott, Scott D.; Eastwood, David B.; Brooker, John R..
An empirical model of the price relationship between distribution stages is developed based on the Shiller lag. The assumption of constant returns to scale is relaxed to incorporate changes in the volume of shipments. An iterative GLS methodology is developed to estimate the model. Tests for symmetry, length of adjustment, and the amount of price transmission are outlined. An application using the change in the retail price of tomatoes based on shipping point price changes is described. Results suggest that the supermarket chain does not respond differently to price increases versus decreases at the shipping point level.
Tipo: Journal Article Palavras-chave: Farm level; Price spreads; Price transmission; Retail level; Shiller lag structure; Symmetry; Tomatoes; Demand and Price Analysis.
Ano: 2001 URL: http://purl.umn.edu/14688
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Comparing Two Sources of Retail Meat Price Data AgEcon
Hahn, William F.; Perry, Janet E.; Southard, Leland W..
The livestock industry uses information on meat prices at different stages in the marketing system to make production decisions. When grocery stores began using electronic scanners to capture prices paid for meat, it was assumed that the livestock industry could capitalize on having these point-of-sale data available as a measure of the value of its products. This report compares scanner price data with publicly available data collected by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). Of the two data types, scanner data provide more information about retail meat markets, including a wider variety of meat-cut prices, multiple measures of an average price, the volume of sales, and the relative importance of discounted prices. The scanner...
Tipo: Report Palavras-chave: Price spreads; Meat; Meat pricing; Scanner data; Retail prices; Retail meat prices; Farm-to-retail; Agricultural and Food Policy; Agricultural Finance; Livestock Production/Industries; Marketing.
Ano: 2009 URL: http://purl.umn.edu/55958
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U.S. Beef Industry: Cattle Cycles, Price Spreads, and Packer Concentration AgEcon
Mathews, Kenneth H., Jr.; Hahn, William F.; Nelson, Kenneth E.; Duewer, Lawrence A.; Gustafson, Ronald A..
In early 1996, the peak in the current cycle of cattle inventories coincided with a long list of negative factors--negative returns at the farm and feedlot, record-high feed grain prices, a severe drought in 1995-96, widening farm-retail price spreads, a low farmers' share of the consumers' Choice beef dollar, and reports of high profits for beefpackers. This confluence created an atmosphere in which some producers and members of Congress questioned whether the cattle industry was adversely affected by high packer concentration and market power. In this report, we examine the cattle cycle of the 1990's to determine if there are differences from previous cattle cycles and, if so, how and why they are different. We found that values for many variables at the...
Tipo: Report Palavras-chave: Cattle cycles; Price spreads; Packer concentration; Cattle slaughter; Steer and heifer slaughter; Cow slaughter; Livestock Production/Industries.
Ano: 1999 URL: http://purl.umn.edu/33583
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