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Monthly Price Premiums and Discounts between Steer Calves and Yearlings

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  • John M. Marsh

Abstract

Distributed lags are used to estimate monthly prices and price premiums and discounts between steer calves and steer yearlings. The statistical results show that premiums and discounts are not highly seasonal but are affected by expected changes in fed slaughter prices and cost of gain in the feedlot. The effects of these variables are sensitive to time, thus the latter should be taken into account for future marketing decisions. Also, price flexibility coefficients indicate that profitability risk in cattle finishing is shifted more to price-weight differences of cattle placed on feed than to changes in the individual prices themselves.

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  • John M. Marsh, 1985. "Monthly Price Premiums and Discounts between Steer Calves and Yearlings," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(2), pages 307-314.
    • Handle: RePEc:oup:ajagec:v:67:y:1985:i:2:p:307-314.
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    File URL: http://hdl.handle.net/10.2307/1240683
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    Cited by:

    1. Trapp, James N. & Webb, Jeane K., 1986. "A Comparison Of Cattle Feeding Profit Variance Indicated By Private Versus Public Data," 1986 Annual Meeting, July 27-30, Reno, Nevada 278117, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Langemeier, Michael R. & Schroeder, Ted C. & Mintert, James R., 1992. "Determinants Of Cattle Finishing Profitability," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(2), pages 1-7, December.
    3. Charles D. Lambert & Mark S. McNulty & Orlen C. Grunewald & Larry R. Corah, 1989. "An analysis of feeder cattle price differentials," Agribusiness, John Wiley & Sons, Ltd., vol. 5(1), pages 9-23.
    4. VanTassell, Larry W. & Bessler, David A., 1988. "Dynamic Price Adjustments Between Commercial and Purebred Cattle Markets," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(2), pages 137-144, December.
    5. Bailey, DeeVon & Peterson, Monte C., 1991. "A Comparison Of Pricing Structures At Video And Traditional Cattle Auctions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(2), pages 1-12, December.
    6. Avent, R. Keith & Ward, Clement E. & Lalman, David L., 2002. "Asymmetric Value Of Preconditioning Programs For Feeder Cattle," 2002 Annual Meeting, July 28-31, 2002, Long Beach, California 36559, Western Agricultural Economics Association.
    7. Swanser, Kole, 2013. "Dynamics of Feeder Cattle Basis and Price Slides," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150249, Agricultural and Applied Economics Association.
    8. Mitchell, James & Peel, Derrell S., 2016. "Price Determinants of Bred Cows in Oklahoma Auctions," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 230077, Southern Agricultural Economics Association.
    9. Dhuyvetter, Kevin C. & Schroeder, Ted C., 1999. "Determinants Of Feeder Cattle Price-Weight Slides," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35679, Western Agricultural Economics Association.
    10. Blank, Steven C. & Saitone, Tina & Sexton, Richard & Kalotia, Kabir & Forero, Larry & Nader, Glenn, 2011. "Location and distance effects on western calf and yearling prices," 2011 Annual Meeting, June 29-July 1, 2011, Banff, Alberta,Canada 291744, Western Agricultural Economics Association.
    11. Allan F. Pinto & Brittney K. Goodrich & William Kelley & Max Runge, 2023. "Price determinants of bred heifers: Do reputations matter?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 71(1), pages 5-23, March.
    12. Williams, Christine H. & Bewley, Ronald A., 1993. "Price Arbitrage Between Queensland Cattle Auctions," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 37(1), pages 1-23, April.
    13. Avent, R. Keith & Ward, Clement E. & Lalman, David L., 2004. "Market Valuation of Preconditioning Feeder Calves," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(1), pages 1-11, April.
    14. Mintert, James & Blair, Joanne & Schroeder, Ted & Brazle, Frank, 1990. "Analysis of Factors Affecting Cow Auction Price Differentials," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 22(2), pages 23-30, December.
    15. Marsh, John M., 2000. "U.S. Feeder Cattle Prices: Effects of Finance and Risk, Cow-Calf and Feedlot Technology, and Mexican and Canadian Feeder Imports," Research Discussion Papers 256824, Montana State University, Department of Agricultural Economics and Economics, Trade Research Center.
    16. Novak, Frank & Eales, James & Munro, Earl, 1993. "Profitability and Risk of Retained Ownership of Beef Calves," Project Report Series 232371, University of Alberta, Department of Resource Economics and Environmental Sociology.

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