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Relationship Between Fed Cattle Market Shares And Prices Paid By Beefpackers In Localized Markets

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  • Ward, Clement E.

Abstract

Industrial organization theory hypothesizes that larger beefpackers can depress prices paid for cattle. Prices paid between at least two beefpackers in some localized markets studies were found to be significantly different for the one-month study period. However, larger beefpackers in each market paid neither lower or higher prices than the smallest buyer, with just one exception. No significant relationship was found between market shares of buyers and average prices paid for cattle. Thus, the hypothesis that larger beefpackers pay significantly lower prices was rejected.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:wjagec:32415
    DOI: 10.22004/ag.econ.32415
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    References listed on IDEAS

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    1. Jesse, Edward V., 1978. "Measuring Market Performance: Quantifying the Non-Quantifiable," Working Papers 202897, University of Wisconsin-Madison, Department of Agricultural and Applied Economics, Food System Research Group.
    2. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
    3. Ward, Clement E., 1979. "Slaughter-Cattle Pricing and Procurement Practices of Meatpackers," Agricultural Information Bulletins 309239, United States Department of Agriculture, Economic Research Service.
    4. 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.
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    Cited by:

    1. Jones, Rodney & Schroeder, Ted & Mintert, James & Brazle, Frank, 1992. "The Impacts of Quality on Cash Fed Cattle Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(2), pages 149-162, December.
    2. 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).
    3. Azzam, Azzeddine M., 1998. "Competition in the US meatpacking industry: is it history?," Agricultural Economics, Blackwell, vol. 18(2), pages 107-126, March.
    4. Merle D. Faminow & Monica de Matos & R.J. Richmond, 1996. "Errors in slaughter steer and heifer prices," Agribusiness, John Wiley & Sons, Ltd., vol. 12(1), pages 79-87.
    5. Ward, Clement E., 1987. "Productivity-Concentration Relationship In The U.S. Meatpacking Industry," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(2), pages 1-6, December.
    6. Tostao, Emilio & Chung, Chanjin & Brorsen, B. Wade, 2006. "Integrating the Structural Auction Approach and Traditional Measures of Market Power," 2006 Annual meeting, July 23-26, Long Beach, CA 21244, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Anderson, John D. & Ward, Clement E. & Koontz, Stephen R. & Peel, Derrell S. & Trapp, James N., 1997. "Estimating the Value of Public Information and Public Information Impacts on the Fed Cattle Market," Staff Papers 232521, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    8. Unknown, 1990. "Structural Change in Livestock: Causes, Implications, Alternatives," Research Institute on Livestock Pricing 232728, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    9. Nelson, Kenneth E., 1985. "Issues And Developments In The U.S. Meatpacking Industry," Staff Reports 277773, United States Department of Agriculture, Economic Research Service.
    10. Koontz, Stephen R. & Garcia, Philip & Hudson, Michael A., 1991. "Meatpacker Conduct And Price Dynamics: An Investigation Of Live Cattle Markets," 1991 Annual Meeting, August 4-7, Manhattan, Kansas 271210, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. 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.
    12. Taylor, Donald C., 1994. "Livestock Manure Production and Disposition: South Dakota Feedlots-Farms-Ranches," Economics Research Papers 232155, South Dakota State University, Department of Economics.

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    Keywords

    Livestock Production/Industries;

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