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A Limited Information Bayesian Forecasting Model of the Cattle SubSector AgEcon
Abidoye, Babatunde O.; Lawrence, John D..
The first step towards forecasting the price and output of the cattle industry is understanding the dynamics of the livestock production process. This study follows up on the Weimar and Stillman (1990) paper by using data from 1970 to 2005 to estimate the parameters that characterizes the cattle output supply. The model is then used to estimate forecast values for the periods 2006 and 2007. Bayesian limited information likelihood method is used to estimate the parameters when endogeneity exists between these variables. The forecasting ability of the model for a two-step ahead forecast for majority of the variables are relatively good and test statistic of the forecast are reported.
Tipo: Conference Paper or Presentation Palavras-chave: Cattle; Bayesian; Forecasting; Inventory; Slaughter; Agribusiness; Agricultural Finance; Financial Economics; Livestock Production/Industries; Marketing; Production Economics; Research Methods/ Statistical Methods.
Ano: 2009 URL: http://purl.umn.edu/53051
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U.S. Consumers’ Valuation of Quality Attributes in Beef Products AgEcon
Abidoye, Babatunde O.; Bulut, Harun; Lawrence, John D.; Mennecke, Brian; Townsend, Anthony M..
A sample of U.S. consumers were surveyed in a choice based experiment in the Fall of 2005 and Spring 2006 to elicit consumers’ preferences for quality attributes in beef products. Based on the resulting data, a random coefficients logit model is estimated, and consumers’ willingness to pay for these quality attributes in beef products is obtained. The results indicate that consumers have strong valuation for traceability, grass-fed, and U.S. origin attributes in a standard rib-eye steak and are willing to pay a premium for these attributes.
Tipo: Journal Article Palavras-chave: Choice experiment; Conjoint analysis; Quality attributes; Random parameters; Consumer/Household Economics; Marketing; Q10; Q1.
Ano: 2011 URL: http://purl.umn.edu/100645
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Value of Single Source and Backgrounded Cattle as Measured by Health and Feedlot Profitability AgEcon
Abidoye, Babatunde O.; Lawrence, John D..
Commingling cattle in the feedlot increases the odds of cattle getting sick. However, backgrounded cattle are less susceptible to diseases which allow the generalizing statements like "backgrounding is just like single source". Using data from over 15,000 cattle fed in 12 Iowa feedlots, we show that although backgrounded cattle do better than preconditioned cattle commingled in the feedlot, they have poorer carcass quality, health, and performance than single source cattle. Backgrounded cattle should be discounted $8.24/head relative to single source, and only received a small premium over multi-source preconditioned cattle though not significantly different.
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/19008
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