Price Discovery in Nebraska Cattle Markets

Matthew Stockton (), David Bessler () and Roger K. Wilson

Journal of Agricultural and Applied Economics, 2010, vol. 42, issue 01, 14

Abstract: Monthly observations on prices from 10 weight/gender classifications of Nebraska beef cattle are studied in an error correction model (ECM) framework. This study attempts a replication of the 2003 paper on Texas prices by Bessler and Davis, where they find medium heifers (600–700 lb) at the center of price discovery. Using the ECM results Nebraska light steers are found to be weakly exogenous, with the innovation accounting results showing marked differences. Industry structure, production choices, and animal type and breeding herd differences between Texas and Nebraska are proposed as plausible reasons for partial (or incomplete) success at replication.

Keywords: Agribusiness; Demand and Price Analysis; Industrial Organization; Livestock Production/Industries; Production Economics; Research Methods/Statistical Methods (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (3)

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Journal Article: Price Discovery in Nebraska Cattle Markets (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:57149

DOI: 10.22004/ag.econ.57149

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