IDEAS home Printed from https://ideas.repec.org/p/ags/aaea14/169389.html
   My bibliography  Save this paper

Eliciting Expert Opinion on Components of USDA Market Livestock Information

Author

Listed:
  • Pruitt, J. Ross
  • Tonsor, Glynn T.
  • Brooks, Kathleen R.

Abstract

This paper explores the tradeoffs that agricultural economists accept for current levels of information contained in two U.S. Department of Agriculture livestock reports. Our analysis compares the components of a report to its value in improving understanding of market dynamics, expense, substitutability, and priority to be maintained. Results indicate the importance of maintaining information regarding the placement weights of cattle in feedlots as well as the inventory and weight information for market hogs.

Suggested Citation

  • Pruitt, J. Ross & Tonsor, Glynn T. & Brooks, Kathleen R., 2014. "Eliciting Expert Opinion on Components of USDA Market Livestock Information," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169389, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:169389
    DOI: 10.22004/ag.econ.169389
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/169389/files/Pruitt_%20Tonsor_%20and%20Brooks%202014%20AAEA%20Paper.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.169389?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Pruitt, J. Ross & Tonsor, Glynn T. & Brooks, Kathleen R. & Johnson, Rachel J., 2013. "End User Preferences for USDA Market Information," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143007, Southern Agricultural Economics Association.
    2. Antonovitz, Frances & Roe, Terry, 1986. "A Theoretical and Empirical Approach to the Value of Information in Risky Markets," The Review of Economics and Statistics, MIT Press, vol. 68(1), pages 105-114, February.
    3. Hayami, Yujiro & Peterson, Willis, 1972. "Social Returns to Public Information Services: Statistical Reporting of U. S. Farm Commodities," American Economic Review, American Economic Association, vol. 62(1), pages 119-130, March.
    4. Victoria Salin & Amy P. Thurow & Katherine R. Smith & Nicole Elmer, 1998. "Exploring the Market for Agricultural Economics Information: Views of Private Sector Analysts," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 20(1), pages 114-124.
    5. David F. Bradford & Harry H. Kelejian, 1978. "The Value of Information for Crop Forecasting with Bayesian Speculators: Theory and Empirical Results," Bell Journal of Economics, The RAND Corporation, vol. 9(1), pages 123-144, Spring.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Norton, George W., 1987. "Evaluating Social Science Research in Agriculture," Evaluating Agricultural Research and Productivity, Proceedings of a Workshop, Atlanta, Georgia, January 29-30, 1987, Miscellaneous Publication 52 50028, University of Minnesota, Agricultural Experiment Station.
    2. Good, Darrel L. & Irwin, Scott H. & Isengildina, Olga, 2006. "The Value of USDA Situation and Outlook Information in Hog and Cattle Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(2), pages 1-21, August.
    3. Jean-Paul Chavas & Rulon D. Pope, 1984. "Information: Its Measurement and Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 705-710.
    4. Lusk, Jayson L., 2016. "From Farm Income to Food Consumption: Valuing USDA Data Products," C-FARE Reports 266593, Council on Food, Agricultural, and Resource Economics (C-FARE).
    5. Skold, Karl Durwood, 1989. "The integration of alternative information systems: an application to the Hogs and Pigs report," ISU General Staff Papers 1989010108000010239, Iowa State University, Department of Economics.
    6. Zilberman, David & Biemer, Paul & Bonnen, James T. & Capalbo, Susan M. & Chalfant, James A. & Fuller, Wayne A. & Gardner, Bruce L. & Jensen, Helen H. & Kinsey, Jean & Smith, V. Kerry & LeBlanc, Michae, 1997. "AAEA Data Task Force Final Report," AAEA Miscellaneous Paper Archive 337240, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Gardner, Bruce L., 1997. "Returns to Policy-Related Social Science Research in Agriculture," Working Papers 197845, University of Maryland, Department of Agricultural and Resource Economics.
    8. Christophe Gouel, 2020. "The Value of Public Information in Storable Commodity Markets: Application to the Soybean Market," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(3), pages 846-865, May.
    9. Karali, Berna & Isengildina-Massa, Olga & Irwin, Scott H. & Adjemian, Michael K. & Johansson, Robert, 2019. "Are USDA reports still news to changing crop markets?," Food Policy, Elsevier, vol. 84(C), pages 66-76.
    10. Taylor, Christopher W., 2012. "Market Reactions to USDA Reports: State Analysis of Corn Price Response," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124661, Agricultural and Applied Economics Association.
    11. Olga Isengildina Massa & Berna Karali & Scott H. Irwin, 2024. "What do we know about the value and market impact of the US Department of Agriculture reports?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 46(2), pages 698-736, June.
    12. Pruitt, J. Ross & Tonsor, Glynn T. & Brooks, Kathleen R. & Johnson, Rachel J., 2013. "End User Preferences for USDA Market Information," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143007, Southern Agricultural Economics Association.
    13. Rafsnider, Giles T. & Skold, Melvin D. & Driscoll, Richard S., 1983. "Increases In Costs And Returns Due To Intensifying Range Forage Production Surveys: An Information Economic Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(1), pages 1-10, July.
    14. Bruce D. Spencer, 1982. "Feasibility of Benefit-Cost Analysis of Data Programs," Evaluation Review, , vol. 6(5), pages 649-672, October.
    15. Irwin, Scott H. & Sanders, Dwight R. & Good, Darrel L., 2014. "Evaluation of Selected USDA WAOB and NASS Forecasts and Estimates in Corn and Soybeans," Marketing and Outlook Research Reports 183477, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.
    16. Ates, Aaron M. & Lusk, Jayson L. & Brorsen, B. Wade, 2019. "Forecasting Meat Prices Using Consumer Expectations from the Food Demand Survey (FooDS)," Journal of Food Distribution Research, Food Distribution Research Society, vol. 50(1), March.
    17. Norton, George W., 1995. "Assessing Impacts of Agricultural and Home Economics Research," Staff Papers 232551, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    18. Adjemian, Michael K. & Johansson, Robert & McKenzie, Andrew & Thomsen, Michael, 2016. "The Value of Government Information in an Era of Declining Budgets," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235811, Agricultural and Applied Economics Association.
    19. Burton, Diana M. & Love, H. Alan, 1996. "A Review of Alternative Expectations Regimes in Commodity Markets: Specification, Estimation, and Hypothesis Testing Using Structural Models," Agricultural and Resource Economics Review, Cambridge University Press, vol. 25(2), pages 213-231, October.
    20. Cherchye, L. & Post, G.T., 2001. "Methodological Advances in Dea," ERIM Report Series Research in Management ERS-2001-53-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

    More about this item

    Keywords

    Agricultural and Food Policy; Livestock Production/Industries; Marketing;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea14:169389. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.