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An Empirical Investigation of Live-Hog Demand

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  • Parcell, Joseph L.
  • Mintert, James R.
  • Plain, Ronald L.

Abstract

An inverse live-hog model was estimated to analyze whether there has been a recent increase in the magnitude of live-hog, own-quantity demand flexibility. Estimating the impact of processing capacity-utilization rate changes on live-hog prices was a second objective of this research. Results indicate that live hog prices have become more responsive to changes in hog slaughter, slaughter weight, cold storage stocks, and changes in the processing capacity-utilization rate. Finally, model results indicate that the sharp increase in processing capacity-utilization rates, the increase in average dressed weight, and the increase in hog slaughter all had a negative effect on the live-hog prices.

Suggested Citation

  • Parcell, Joseph L. & Mintert, James R. & Plain, Ronald L., 2004. "An Empirical Investigation of Live-Hog Demand," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(3), pages 1-15, December.
    • Handle: RePEc:ags:joaaec:43476
    DOI: 10.22004/ag.econ.43476
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    1. Schroeder, Ted & Jones, Rodney & Mintert, James & Barkley, Andrew, 1991. "The Impacts of Captive Supplies on the Fed Cattle Industry," Staff Papers 232404, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
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    Cited by:

    1. Hornung, Jonathan T. & Ward, Clement E., 2005. "Positive Market Effects from a Meatpacking Plant Opening: Perceptions and Reality," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 6, pages 1-10, March.
    2. Parcell, Joseph L., 2003. "An Empirical Analysis of the Demand for Wholesale Pork Primals: Seasonality and Structural Change," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(2), pages 1-14, August.
    3. Franken, Jason R.V. & Parcell, Joseph L. & Sykuta, Michael E. & Fulcher, Christopher L., 2005. "Market Integration: Case Studies of Structural Change," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 34(2), pages 1-10, October.
    4. Diersen, Matthew A., 2001. "South Dakota's Hog Market: Developments and Prospects," Economics Staff Papers 32021, South Dakota State University, Department of Economics.
    5. Brinker, Adam J. & Parcell, Joseph L. & Dhuyvetter, Kevin C., 2007. "Cross-Hedging Distillers Dried Grains: Exploring Corn and Soybean Meal Futures Contracts," 2007 Conference, April 16-17, 2007, Chicago, Illinois 37567, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.

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    More about this item

    JEL classification:

    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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