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Attributes Distinguishing Wool Production Enterprises Selling Wool Privately

Author

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  • McMahon, Pat J.
  • Metcalfe, John S.

Abstract

The focus in this paper is to identify characteristics which distinguish enterprises of operators who sold wool privately from those who sold at auction. The "t" tests on differences in means revealed that private sales tend to be associated with small woolproducing enterprises. In Western Australia, the further removed enterprises are from an auction selling centre the lower the probability of a private sale. In the Eastern States, the probability of a private sale was higher during the period of supply management in 1974-75, the average level of indebtedness to pastoral companies was lower for those enterprises from which wool was sold privately and traditional ties to wool selling brokers were apparently important in the 1974-75 wool selling season, although the importance of this factor diminished in 1975-76.

Suggested Citation

  • McMahon, Pat J. & Metcalfe, John S., 1979. "Attributes Distinguishing Wool Production Enterprises Selling Wool Privately," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 47(02), pages 1-13, August.
    • Handle: RePEc:ags:remaae:12475
    DOI: 10.22004/ag.econ.12475
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    References listed on IDEAS

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    1. Jock R. Anderson & Roy A. Powell, 1973. "Economics Of Size In Australian Farming," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 17(1), pages 1-16, April.
    2. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-846, September.
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    Keywords

    Livestock Production/Industries;

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