IDEAS home Printed from https://ideas.repec.org/p/ags/uamsmr/310550.html
   My bibliography  Save this paper

Analysis of Short-Time Changes in the Price of Butter at Chicago

Author

Listed:
  • March, Robert W.
  • Anderson, Elsie D.
  • Klein, Jack E.

Abstract

Excerpts from the report: Since World War II the price of butter has tended to fluctuate erratically when it was not being actively supported by Government purchases. It was found in this study that, in general, relatively little of the day-to-day changes in price could be associated with published indicators of short-time changes in supply and demand. Despite the failure to find strong measurable relationships between daily prices and other market statistics, major receivers of butter and others familiar with the market say that the butter market is very sensitive to changing supply and demand situations. Close observation of major price movements indicated that this was true, but that price adjustments were excessive and undependable relative to changes in supply and demand, particularly when supplies were short. This study examined the nature of fluctuations in butter prices at Chicago during 1947, 1948, 1951, and January through March 1952. The fluctuations were evaluated as to their reasonableness in terms of short-time changes in supply and demand, and the extent to which short-time changes in price could be explained by changes in supply and demand factors was determined statistically. The relationship between price and 20 supply-demand factors was studied for 10 marketing seasons encompassing 811 trading days, and detailed qualitative analysis was made of factors affecting price during certain periods in which price was consistently moving in one direction.

Suggested Citation

  • March, Robert W. & Anderson, Elsie D. & Klein, Jack E., 1957. "Analysis of Short-Time Changes in the Price of Butter at Chicago," Marketing Research Reports 310550, United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program.
    • Handle: RePEc:ags:uamsmr:310550
    DOI: 10.22004/ag.econ.310550
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/310550/files/mrr194.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.310550?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
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gerald, John O., 1970. "A National Base Price Quotation System for Eggs," WAEA/ WFEA Conference Archive (1929-1995) 323627, Western Agricultural Economics Association.
    2. McAllister, C. E. & Clarke, D. A., Jr., 1960. "Class III Milk in the New York Milkshed: IV. Processing Margins for Manufactured Dairy Products," Marketing Research Reports 311356, United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program.

    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:uamsmr:310550. 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.

    We have no bibliographic references for this item. You can help adding them by using 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/amsgvus.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.