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Short-Term Vertical Market Price Interrelationships of Beef and Pork

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  • Hayenga, Marvin L.
  • Schroeder, Ted C.

Abstract

Monitoring short-term monthly farm to retail meat price margins requires knowing how rapidly price changes at the farm level are reflected at the wholesale and retail levels. Studies that have addressed this issue on a short-term basis have had varied conclusions. This study uses time series transfer functions and Granger causality to evaluate these intertemporal weekly price changes over the 1983 through 1985 period. The transfer functions indicated that live and wholesale beef prices were usually determined within the same week and live pork prices led wholesale pork prices by 2 to 3 weeks. Granger causality analyses indicated that farm beef and pork price changes led wholesale price changes by 4 weeks. Retail beef price changes lagged wholesale beef price changes by 3 weeks. Retail pork price changes lagged wholesale pork price changes by 3 to 5 weeks.

Suggested Citation

  • Hayenga, Marvin L. & Schroeder, Ted C., 1987. "Short-Term Vertical Market Price Interrelationships of Beef and Pork," Staff General Research Papers Archive 11311, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:11311
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    Cited by:

    1. Jaramillo-Villanueva, J.L. & Sarker, R. & Cabas-Monje, J. & Portilla-Duran, L., 2018. "Vertical and Spatial Price Transmissi n in the Mexican and International Milk Market," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277283, International Association of Agricultural Economists.
    2. Acosta, Alejandro, 2012. "Measuring spatial transmission of white maize prices between South Africa and Mozambique: An asymmetric error correction model approach," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 7(1), pages 1-13, October.
    3. Joseph, Kishore & Garcia, Philip & Peterson, Paul E., 2016. "Does the Boxed Beef Price Inform the Live Cattle Futures Price?," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236166, Agricultural and Applied Economics Association.
    4. Owen, C. Jane & Sporleder, Thomas L. & Bessler, David A., 1991. "Fabricated Cut Beef Prices As Leading Indicators Of Fed Cattle Price," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-7, July.
    5. Grundmeier, Eric (Eric L.), 1989. "Formulation of a carcass cutout value: an alternative wholesale beef pricing method," ISU General Staff Papers 1989010108000017580, Iowa State University, Department of Economics.
    6. Crespi, John M. & Hahn, William & Jones, Keithly & Schulz, Lee L. & Chen, Chen-Ti, 2016. "A Study in U.S. Export Beef Competitiveness: Do Cattle Inventories Matter?," 2017 Allied Social Sciences Association (ASSA) Annual Meeting, January 6-8, 2017, Chicago, Illinois 250113, Agricultural and Applied Economics Association.
    7. Ted C. Schroeder, 1988. "Price linkages between wholesale and retail pork cuts," Agribusiness, John Wiley & Sons, Ltd., vol. 4(4), pages 359-369.

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