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Are Cattle Markets the Last Frontier? Vertical Coordination in Animal-Based Procurement Markets

Author

Listed:
  • John M. Crespi

    (Department of Economics, Iowa State University, Ames, Iowa 50011, USA)

  • Tina L. Saitone

    (Department of Agricultural and Resource Economics, University of California, Davis, California 95616, USA)

Abstract

Vertical integration and contracting have been documented as important developments in enhancing the efficiency of supply chains in agriculture. Despite the efficiency gains, movement toward greater integration remains controversial. Meanwhile, the diffusion of these alternative procurement mechanisms has been heterogeneous over time and across commodities. In this review we compare and contrast the livestock and poultry industries in the United States to provide insights into the future of integration and coordination throughout the beef cattle supply chain. While similarities exist across livestock and poultry industries, there are significant differences that placed the beef industry on a different trajectory, with a variety of structural and biological factors that have limited the industry's progression toward greater integration.

Suggested Citation

  • John M. Crespi & Tina L. Saitone, 2018. "Are Cattle Markets the Last Frontier? Vertical Coordination in Animal-Based Procurement Markets," Annual Review of Resource Economics, Annual Reviews, vol. 10(1), pages 207-227, October.
    • Handle: RePEc:anr:reseco:v:10:y:2018:p:207-227
    DOI: 10.1146/annurev-resource-100517-022948
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    Citations

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    Cited by:

    1. Dermot J. Hayes & Lee L. Schulz & Chad E. Hart & Keri L. Jacobs, 2021. "A descriptive analysis of the COVID‐19 impacts on U.S. pork, turkey, and egg markets," Agribusiness, John Wiley & Sons, Ltd., vol. 37(1), pages 122-141, January.
    2. Ma, Meilin & Liu, Yunjuan, 2020. "Processor-Retailer Markup and Pricing Decision: Insights from the U.S. Beef Market 2011-16," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304350, Agricultural and Applied Economics Association.
    3. Tina L. Saitone & K. Aleks Schaefer & Daniel Scheitrum & Shawn Arita & Vince Breneman & Rebecca Nemec Boehm & Josh G. Maples, 2024. "Consolidation and Concentration in U.S. Meat Processing: Updated Measures Using Plant-Level Data," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 64(1), pages 35-56, February.
    4. Hayes Dermot & Jacobs Keri & Schulz Lee & Crespi John, 2023. "Resilience of U.S. Cattle and Beef Sectors: Lessons from COVID-19," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 21(1), pages 53-67, May.
    5. Shalynn Sumrow & Darren Hudson & Oscar Sarasty & Carlos Carpio & Christy Bratcher, 2024. "Consumer preferences for worker and supply chain risk mitigation in the beef supply chain in response to COVID‐19 pandemic," Agribusiness, John Wiley & Sons, Ltd., vol. 40(1), pages 299-315, January.

    More about this item

    Keywords

    beef; cattle; contracts; livestock; vertical coordination; vertical integration;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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