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An Analysis Of The Impact Of Energy Price Escalations During The 1970s On Hawaii Beef Production And Prices

Author

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  • Roberts, Roland K.
  • Vieth, Gary R.
  • Nolan, James C., Jr.

Abstract

A quarterly econometric model of the Hawaii beef production sector is estimated. Energy prices influence the model through Hawaii beef and feed prices which are a function of Mainland-to-Hawaii freight rates. Energy prices also influence the decision of whether to allocate feeder animals to feedlots or pasture. Through simulation, it was found that rapidly increasing energy prices after 1973 resulted in a 22 percent reduction in total Hawaii beef production. The composition of production also changed toward more grain fed and less grass fed beef. Given these results, other state and national beef modelers might find it useful to include energy prices in their models.

Suggested Citation

  • Roberts, Roland K. & Vieth, Gary R. & Nolan, James C., Jr., 1984. "An Analysis Of The Impact Of Energy Price Escalations During The 1970s On Hawaii Beef Production And Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(1), pages 1-16, July.
    • Handle: RePEc:ags:wjagec:32370
    DOI: 10.22004/ag.econ.32370
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    References listed on IDEAS

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    1. Marc Nerlove, 1958. "Distributed lags and Estimation of Long-Run Supply and Demand Elasticities: Theoretical Considerations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(2), pages 301-310.
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    6. Martin, William John, 1982. "U.S. agricultural policy and the demand for imported beef," ISU General Staff Papers 198201010800009365, Iowa State University, Department of Economics.
    7. Raymond M. Leuthold, 1975. "On the Use of Theil's Inequality Coefficients," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 344-346.
    8. Carter, H.O. & Youde, J.G., 1974. "Some Impacts Of The Changing Energy Situation On U.S. Agriculture," 1974 Annual Meeting, August 18-21, College Station, Texas 284571, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Crom, Richard, 1970. "A Dynamic Price-Output Model of the Beef and Pork Sectors," Technical Bulletins 171854, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Roberts, Roland K. & Martin, William J., 1984. "State-Level Analysis of National Beef Policy: The Use of State Econometric Models," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 16(2), pages 63-72, December.
    2. Roberts, Roland K., 1985. "Transportation Costs In Econometric Models Of State Agricultural Sectors: The Case Of Beef In Hawaii," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(1), pages 1-17, July.
    3. Roberts, Roland K. & Martin, William J., 1985. "The Effects Of Alternative Beef Import Quota Regimes On The Beef Industries Of The Aggregate United States And Hawaii," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-15, December.

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