An Empirical Investigation of Live-hog Demand

Joe Parcell (), James Mintert and Ron Plain

Journal of Agricultural & Applied Economics, 2004, vol. 36, issue 3, pages 773-787

Abstract: An inverse live-hog demand model was estimated to analyze whether there has been a recent increase in the magnitude of live-hog, own-quantity demand flexibility. Estimating the impact of processing capacity-utilization rate changes on live-hog prices was a second objective of this research. Results indicate live hog prices have become more responsive to changes in hog slaughter, slaughter weight, cold storage stocks, and changes in processing capacity-utilization. Finally, model results indicate the sharp increase in processing capacity-utilization rates, the increase in average dressed weight, and the increase in hog slaughter all had a negative effect on the live-hog prices.

Keywords: capacity utilization; live hog demand; structural change (search for similar items in EconPapers)
JEL-codes: Q11 Q12 Q13 D40 (search for similar items in EconPapers)

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Journal of Agricultural & Applied Economics is edited by Jeffrey M. Gillespie

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