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The Impact of Component Pricing of Soybeans and Milk

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  • Richard K. Perrin

Abstract

Currently, the price that an individual farmer receives for soybeans is not adjusted for oil and protein content, and the price for milk is adjusted for fat content but not for solids-not-fat. This study finds that the potential social surplus gains from a change to component pricing of these commodities is small (no more than one to two percent of current commodity value, before deducting the extra costs of such a pricing system). Substantial transfers would occur between component-consuming groups, while producers as a group would be affected only slightly.

Suggested Citation

  • Richard K. Perrin, 1980. "The Impact of Component Pricing of Soybeans and Milk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(3), pages 445-455.
    • Handle: RePEc:oup:ajagec:v:62:y:1980:i:3:p:445-455.
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    File URL: http://hdl.handle.net/10.2307/1240199
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    Cited by:

    1. Waseem AHMAD* & Tanvir AHMED** & Bashir AHMAD***, 2017. "HEDONIC PRICING OF MILK AT RETAIL LEVEL: A Case of Faisalabad, Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 27(1), pages 29-39.
    2. Espinosa, Juan Andres & Goodwin, Barry K., 1991. "Hedonic Price Estimation For Kansas Wheat Characteristics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-14, July.
    3. Ramesh, Nandini, 2002. "Contract design in soybean production," ISU General Staff Papers 2002010108000018191, Iowa State University, Department of Economics.
    4. Estes, Edmund A. & Smith, V. Kerry, 1996. "Price, Quality, And Pesticide Related Health Risk Considerations In Fruit And Vegetable Purchases: An Hedonic Analysis Of Tucson, Arizona Supermarkets," Journal of Food Distribution Research, Food Distribution Research Society, vol. 27(3), pages 1-18, October.
    5. Jordan, Jeffery L. & Shewfelt, R.L. & Prussia, S.E. & Hurst, W.C., 1985. "Estimating Implicit Marginal Prices of Tomatoes Using A Flexible Functional Form," 1985 Annual Meeting, August 4-7, Ames, Iowa 278650, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Ethridge, Don E. & Davis, Bob, 1982. "Hedonic Price Estimation For Commodities: An Application To Cotton," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-8, December.
    7. Estes, Edmund A., 1986. "Estimation Of Implicit Prices For Green Pepper Quality Attributes Using An Hedonic Framework," Journal of Food Distribution Research, Food Distribution Research Society, vol. 17(2), pages 1-11, September.
    8. James, Jennifer S., 1999. "Endogenous Quality And Agricultural Policy Analysis," 1999 Annual meeting, August 8-11, Nashville, TN 21634, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Suleyman Karaman & Bahattin Cetin & Ayse Oguzlar & Koksal Yagdi, 2009. "Hedonic price estimation for the Turkish bread wheat characteristics," Quality & Quantity: International Journal of Methodology, Springer, vol. 43(6), pages 895-902, November.
    10. Smale, Melinda & Heisey, Paul W., 1997. "Grain Quality and Crop Breeding when Farmers Consumer their Grain: Evidence from Malawi," 1997 Occasional Paper Series No. 7 198058, International Association of Agricultural Economists.
    11. Richards, Timothy J. & Jeffrey, Scott R., 1995. "Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit," Project Report Series 24035, University of Alberta, Department of Resource Economics and Environmental Sociology.
    12. Richey, Bobby G., Jr. & Williams, Gary W., 1987. "The Effects of Component Pricing on the U.S. Soybean Industry: A Dynamic Simulation Analysis," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 270142, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Johannes Daniël van der Merwe & Philippus Christoffel Cloete & Herman Daniël van Schalkwyk, 2016. "Factors Influencing the Competitiveness of the South African Wheat Industry: A Hedonic Price Model," Agrekon, Taylor & Francis Journals, vol. 55(4), pages 411-435, October.
    14. Lyford, Conrad P. & Yumkella, Kandeh K. & Mercier, Stephanie & Hyberg, Bengt, 1994. "Quality Pricing in U.S. Soybean Exports," Staff Paper Series 201193, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    15. Alston, Julian M., 1991. "Research Benefits in a Multimarket Setting: A Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(01), pages 1-30, April.
    16. Estes, Edmund A., 1988. "Immigration Reform And Perishable Crop Agriculture," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270188, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. Nolan, Elizabeth & Farrell, Terence & Ryan, Madeleine & Gibbon, Candice & Ahmadi-Esfahani, Fredoun Z., 2014. "Valuing quality attributes of Australian merino wool," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(3), July.

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