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Correction of Measurement Error in Monthly USDA Pig Crop: Generating Alternative Data Series

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  • Kim, In Seck
  • Plain, Ronald L.
  • Bullock, J. Bruce
  • Jei, Sang Young

Abstract

The imputed pig death loss contained in the reported monthly U.S. Department of Agriculture (USDA) pig crop data over the December 1995–June 2006 period ranged from 24.93% to 12.75%. Clearly, there are substantial measurement errors in the USDA monthly pig crop data. In this paper, we present alternative monthly U.S. pig crop data using the biological production process, which is compatible with prior knowledge of the U.S. hog industry. Alternative pig crop data are applied to a slaughter hog model and tested comparatively to USDA pig crop. Test results reject the validity of USDA pig crop data in favor of the alternative data.

Suggested Citation

  • Kim, In Seck & Plain, Ronald L. & Bullock, J. Bruce & Jei, Sang Young, 2008. "Correction of Measurement Error in Monthly USDA Pig Crop: Generating Alternative Data Series," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(2), pages 1-15, August.
    • Handle: RePEc:ags:joaaec:47208
    DOI: 10.22004/ag.econ.47208
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    References listed on IDEAS

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    1. Davidson, Russell & MacKinnon, James G, 1981. "Several Tests for Model Specification in the Presence of Alternative Hypotheses," Econometrica, Econometric Society, vol. 49(3), pages 781-793, May.
    2. Chavas, Jean-Paul, 1999. "On The Economic Rationality Of Market Participants: The Case Of Expectations In The U.S. Pork Market," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(01), pages 1-19, July.
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