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A Note on the Theory of Price Determination in the Australian Beef Market

Author

Listed:
  • Reeves, G.W.
  • Longmire, James L.

Abstract

The view is taken that institutional factors operating in the international beef market limit the usefulness of a competitive spatial equilibrium model for understanding the process of price formation in the Australian beef market. A simple theoretical model is developed to demonstrate the impact of the U.S. beef quota and Australia's meat export control scheme on Australian beef prices. It is argued that Australian beef prices are related to the weighted average of export prices rather than any "world" price. Implications for the direction and volume of Australia's beef exports are discussed.

Suggested Citation

  • Reeves, G.W. & Longmire, James L., 1982. "A Note on the Theory of Price Determination in the Australian Beef Market," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(01), pages 1-8, April.
    • Handle: RePEc:ags:remaae:12294
    DOI: 10.22004/ag.econ.12294
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    References listed on IDEAS

    as
    1. John W. Freebairn & Fred H.G. Gruen, 1977. "Marketing Australian Beef And Export Diversification Schemes," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 21(1), pages 26-39, April.
    2. Larry Martin & Anthony C. Zwart, 1975. "A Spatial and Temporal Model of the North American Pork Sector for the Evaluation of Policy Alternatives," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(1), pages 55-66.
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    Cited by:

    1. Martin, S.K. & Zwart, A.C., 1987. "Marketing Agencies And The Economics Of Market Segmentation," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(3), pages 1-14, December.

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