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Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance

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  • Hueth, Brent
  • Lawrence, John D.

Abstract

The declining share of beef in total U.S. meat consumption has motivated industrywide efforts to improve average beef quality through more effective coordination among the various market participants. Increased use of explicit grid pricing mechanisms over the last decade represents initial efforts at improved coordination. More recent efforts include animal-specific carcass data collection, with subsequent transmission to feeders and the relevant cow/calf operations, and improved source verification procedures aimed at (among other things) reducing the overall cost of medical treatment for live animals. None of these organizational innovations is costless, and indeed a number of significant barriers must be overcome before more widespread adoption of such practices takes place. This paper takes a detailed look at one organization’s attempts to overcome some of these barriers, and provides a qualitative assessment of this and other potential organizational responses.

Suggested Citation

  • Hueth, Brent & Lawrence, John D., 2006. "Information Transmission in Cattle Markets: A Case Study of the Chariton Valley Beef Alliance," ISU General Staff Papers 200601010800001013, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:200601010800001013
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    1. Purcell, Wayne D., 2000. "Measures of Changes in Demand for Beef, Pork, and Chicken, 1975-2000," Staff Papers 232384, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    2. Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
    3. Lawrence, John D. & Yeboah, Godfred, 2002. "Estimating the Value of Source Verification of Feeder Cattle," Staff General Research Papers Archive 10199, Iowa State University, Department of Economics.
    4. Forristall, Cody & May, Gary J. & Lawrence, John D., 2002. "Assessing The Cost Of Beef Quality," 2002 Conference, April 22-23, 2002, St. Louis, Missouri 19060, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    5. Clive Bull, 1987. "The Existence of Self-Enforcing Implicit Contracts," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(1), pages 147-159.
    6. Hayenga, Marvin L., 2000. "Meat Packer Vertical Integration and Contract Linkages in the Beef and Pork Industries: An Economic Perspective," Staff General Research Papers Archive 10564, Iowa State University, Department of Economics.
    7. Hueth, Brent & Hennessy, David A., 2002. "Contracts and Risk in Agriculture: Conceptual and Empirical Foundations," Staff General Research Papers Archive 5324, Iowa State University, Department of Economics.
    8. Lawrence, John D. & Yeboah, Godfred, 2002. "Estimating The Value Of Source Verification Of Feeder Cattle," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 20(2), pages 1-13.
    9. Holmstrom, Bengt, 1999. "The Firm as a Subeconomy," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(1), pages 74-102, April.
    10. Forristall, Cody & May, Gary J. & Lawrence, John D., 2002. "Assessing the Cost of Beef Quality," Staff General Research Papers Archive 2101, Iowa State University, Department of Economics.
    11. Lawrence, John D. & Forristall, Cody & May, Gary, 2002. "Assessing the Cost of Beef Quality," Staff General Research Papers Archive 10467, Iowa State University, Department of Economics.
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    Cited by:

    1. Philippe Marcoul & John Lawrence, 2007. "Grader Bias in Cattle Markets? Evidence from Iowa," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(4), pages 890-903.
    2. Scott W. Fausti & Zhiguang Wang & Bashir A. Qasmi & Matthew A. Diersen, 2014. "Risk and marketing behavior: pricing fed cattle on a grid," Agricultural Economics, International Association of Agricultural Economists, vol. 45(5), pages 601-612, September.
    3. Aubert, M. & Bouhsina, Z. & Codron, J.M. & Rousset, S., 2013. "Pesticide safety risk, food chain organization, and the adoption of sustainable farming practices. The case of Moroccan early tomatoes," Working Papers MoISA 201304, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    4. Chunyang Han & Amjad Pervez & Jingqiong Wu & Xiaojing Shen & Dezhi Zhang, 2020. "Home-Delivery-Oriented Agri-Food Supply Chain Alliance: Framework, Management Strategies, and Cooperation Stability Control," Sustainability, MDPI, vol. 12(16), pages 1-34, August.

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