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An Empirical Study Of Competition In The Price Discovery Process For Slaughter Lambs

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  • Ward, Clement E.

Abstract

Buyer competition in the price discovery process for slaughter lambs at an Oklahoma teleauction was studied. Number of buyers positively influenced both absolute and relative sale prices but did not significantly affect buyer gross margins. Buyer market shares also affected prices paid and buyer gross margins. Thus, competition among buyers was found to be important in the price discovery process.

Suggested Citation

  • Ward, Clement E., 1984. "An Empirical Study Of Competition In The Price Discovery Process For Slaughter Lambs," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(1), pages 1-10, July.
    • Handle: RePEc:ags:wjagec:32367
    DOI: 10.22004/ag.econ.32367
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    References listed on IDEAS

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    1. Menkhaus, Dale J. & St. Clair, James S. & Ahmaddaud, A. Zahedi, 1981. "The Effects Of Industry Structure On Price: A Case In The Beef Industry," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 6(2), pages 1-8, December.
    2. Ward, Ronald W., 1982. "The Agricultural Marketing Agenda For The Eighties," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 14(1), pages 1-6, July.
    3. Capozza, Dennis R & Van Order, Robert, 1978. "A Generalized Model of Spatial Competition," American Economic Review, American Economic Association, vol. 68(5), pages 896-908, December.
    4. Henderson, Dennis R. & Baldwin, E. Dean, 1981. "Marketing Slaughter Hogs by Remote-Access Computerized Auction: Theory and Empirical Results," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279414, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Harold G. Love & D. Milton Shuffett, 1965. "Short-Run Price Effects of a Structural Change in a Terminal Market for Hogs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 803-812.
    6. Ward, Clement E., 1979. "Slaughter-Cattle Pricing and Procurement Practices of Meatpackers," Agricultural Information Bulletins 309239, United States Department of Agriculture, Economic Research Service.
    7. Ward, Clement E., 1981. "Short-Period Pricing Models For Fed Cattle And Impacts Of Wholesale Carcass Beef And Live Cattle Futures Market Prices," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 13(1), pages 1-8, July.
    8. Allen B. Paul, 1979. "Some Basic Problems of Research into Competition in Agricultural Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(1), pages 170-177.
    9. Aspelin, Arnold & Engelman, Gerald, 1966. "Packer Feeding of Cattle: Its Volume and Significance," Marketing Research Reports 312415, United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program.
    10. Ward, Clement E., 1982. "Relationship Between Fed Cattle Market Shares And Prices Paid By Beefpackers In Localized Markets," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-8, July.
    11. Ward, Clement E., 1981. "Short-Period Pricing Models for Fed Cattle and Impacts of Wholesale Carcass Beef and Live Cattle Futures Market Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 13(1), pages 125-132, July.
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    Cited by:

    1. Buccola, Steven T., 1989. "Pricing Efficiency In Agricultural Markets: Issues, Methods, And Results," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(1), pages 1-11, July.
    2. Schroeder, Ted C. & Mintert, James & Jones, Rodney, 1992. "Factors Affecting Bidding Activity for Fed Cattle," WAEA/ WFEA Conference Archive (1929-1995) 321380, Western Agricultural Economics Association.
    3. Sporleder, Thomas L. & Colling, Phil L., 1986. "Competition And Price Relationships For An Electronic Market," 1986 Annual Meeting, July 27-30, Reno, Nevada 278102, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Azzam, Azzeddine M., 1998. "Competition in the US meatpacking industry: is it history?," Agricultural Economics, Blackwell, vol. 18(2), pages 107-126, March.
    5. Ward, Clement E., 2002. "A Review of Causes for and Consequences of Economic Concentration in the U.S. Meatpacking Industry," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 3, pages 1-28, January.
    6. Roba, Guyo M. & Lelea, Margareta A. & Hensel, Oliver & Kaufmann, Brigitte, 2018. "Making decisions without reliable information: The struggle of local traders in the pastoral meat supply chain," Food Policy, Elsevier, vol. 76(C), pages 33-43.
    7. Koontz, Stephen R. & Ward, Clement E., 1993. "Electronic Market Use By Oklahoma Lamb Producers," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-16, July.
    8. Brester, Gary W. & Musick, Douglas C., 1995. "The Effect Of Market Concentration On Lamb Marketing Margins," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(1), pages 1-12, July.
    9. Schroeder, Ted C. & Ward, Clement E. & Mintert, James & Peel, Derrell S., 1998. "Beef Industry Price Discovery: A Look Ahead," Staff Papers 232524, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.

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