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Price Discovery in Nebraska Cattle Markets

Author

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  • Stockton, Mathew C.
  • Bessler, David A.
  • Wilson, Roger K.

Abstract

Monthly observations on prices from 10 weight/gender classifications of Nebraska beef cattle are studied in an error correction model (ECM) framework. This study attempts a replication of the 2003 paper on Texas prices by Bessler and Davis, where they find medium heifers (600-700 1b) at the center of price discovery. Using the ECM results Nebraska light steers are found to be weakly exogenous, with the innovation accounting results showing marked differences. Industry structure, production choices, and animal type and breeding herd differences between Texas and Nebraska are proposed as plausible reasons for partial (or incomplete) success at replication.

Suggested Citation

  • Stockton, Mathew C. & Bessler, David A. & Wilson, Roger K., 2010. "Price Discovery in Nebraska Cattle Markets," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 42(1), pages 1-14, February.
    • Handle: RePEc:cup:jagaec:v:42:y:2010:i:01:p:1-14_00
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    Cited by:

    1. Franken, Jason R.V. & Parcell, Joseph L. & Tonsor, Glynn T., 2011. "Impact of Mandatory Price Reporting on Hog Market Integration," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(2), pages 1-13, May.
    2. Kim, Man-Keun & Tejeda, Hernan & Yu, T. Edward, 2016. "Dynamic and Spatial Relationships in US Rice Markets," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229784, Southern Agricultural Economics Association.
    3. Kim, Man-Keun & Tejeda, Hernan & Yu, T. Edward, 2017. "U.S. milled rice markets and integration across regions and types," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(5).

    More about this item

    JEL classification:

    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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