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Monthly Supply-Demand Relationships for Fed Cattle and Hogs

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  • Marvin L. Hayenga
  • Duane Hacklander

Abstract

Monthly livestock supply, demand, and price variations reflect phenomena often not isolated in annual or quarterly time series analysis. A five-equation model of cattle and hog monthly supply and demand behavior at the live market level was estimated via two-stage least squares. Regular monthly demand fluctuations, income and population changes, and the slaughter supply per packer work day were found to affect cattle and hog prices. Marketing behavior by farmers was affected by feedlot inventories and the recent price change which apparently influenced their short-run price expectations and subsequent marketing response.

Suggested Citation

  • Marvin L. Hayenga & Duane Hacklander, 1970. "Monthly Supply-Demand Relationships for Fed Cattle and Hogs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 52(4), pages 535-544.
    • Handle: RePEc:oup:ajagec:v:52:y:1970:i:4:p:535-544.
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    File URL: http://hdl.handle.net/10.2307/1237261
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    Citations

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    Cited by:

    1. Reid, Donald W. & Reed, Michael R., 1982. "An Analysis of the Southeastern Feeder Pig Market," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 14(2), pages 97-100, December.
    2. Smith, Rodney B.W. & Gardner, Bruce L., 1989. "Expectations, Futures Prices, and Feedlot Operator Behavior," Working Papers 197622, University of Maryland, Department of Agricultural and Resource Economics.
    3. Lee, Tsoung-Chao & Seaver, Stanley K., 1980. "Forecasts Of Farm Animal Production In The New England States And In The U.S," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 1), pages 1-6, April.
    4. Tomek, William G. & Robinson, Kenneth L., 1977. "PART V. Agricultural Price Analysis and Outlook," AAEA Monographs, Agricultural and Applied Economics Association, number 337217, january.
    5. Wohlgenant, Michael K., 1980. "An Analysis Of Short-Run Changes In The Farm-Retail Price Spread For Beef," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278969, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Foote, Richard J. & Williams, Robert R. Jr & Craven, John A., 1973. "Quarterly and Shorter-Term Price Forecasting Models Relating to Cash and Futures Quotations for Pork Bellies," Technical Bulletins 158603, United States Department of Agriculture, Economic Research Service.
    7. Parcell, Joseph L. & Mintert, James R. & Plain, Ronald L., 2004. "An Empirical Investigation of Live-Hog Demand," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(3), pages 1-15, December.
    8. Unterschultz, James R. & Jeffrey, Scott R. & Quagrainie, Kwamena K., 2000. "Value-Adding 20 Billion By 2005: Impact At The Alberta Farm Gate," Project Report Series 24049, University of Alberta, Department of Resource Economics and Environmental Sociology.
    9. Naik, Gopal & Dixon, Bruce L., 1986. "A Monte Carlo Comparison Of Alternative Estimators Of Autocorrelated Simultaneous Systems Using A U.S. Pork Sector Model As The True Structure," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 11(2), pages 1-12, December.
    10. Lee, Tsoung-Chao & Seaver, Stanley K., 1980. "Forecasts Of Farm Animal Production In The New England States And In The U.S," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 9(1), pages 1-6, April.
    11. Probst, Joel Keith, 1982. "Monthly cattle supply and price forecasting models," ISU General Staff Papers 1982010108000018043, Iowa State University, Department of Economics.
    12. D. V. Gordon, 1990. "Negative Supply Response And The Role Of Price Expectations In A Two‐Period Model Of Cattle Production," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(2), pages 184-195, May.
    13. Conley, Dennis M. & Wade, Mark A., 2007. "Consumer Responses to Food Safety Information from Print Media," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 10(3), pages 1-22.
    14. Smith, Rodney B.W. & Gardner, Bruce L., 1993. "Expectations, Futures Prices, And Feedlot Behavior," Staff Papers 13444, University of Minnesota, Department of Applied Economics.
    15. Smyth, Donald Craig, 1985. "Economic impacts of the Farmer-Owned Reserve program on the U.S. corn-livestock sector," ISU General Staff Papers 1985010108000013104, Iowa State University, Department of Economics.
    16. Lanier, Eleanor B., 1972. "Economics of Agriculture: Reports and Publications Issued or Sponsored by USDA's Economic Research Service, July 1970-June 1971," Miscellaneous Publications 321803, United States Department of Agriculture, Economic Research Service.

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