Are Cattle Markets the Last Frontier? Vertical Coordination in Animal-Based Procurement Markets

John Crespi and Tina L. Saitone ()
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Tina L. Saitone: Department of Agricultural and Resource Economics, University of California, Davis, California 95616, USA

Annual Review of Resource Economics, 2018, vol. 10, issue 1, 207-227

Abstract: Vertical integration and contracting have been documented as important developments in enhancing the efficiency of supply chains in agriculture. Despite the efficiency gains, movement toward greater integration remains controversial. Meanwhile, the diffusion of these alternative procurement mechanisms has been heterogeneous over time and across commodities. In this review we compare and contrast the livestock and poultry industries in the United States to provide insights into the future of integration and coordination throughout the beef cattle supply chain. While similarities exist across livestock and poultry industries, there are significant differences that placed the beef industry on a different trajectory, with a variety of structural and biological factors that have limited the industry's progression toward greater integration.

Keywords: beef; cattle; contracts; livestock; vertical coordination; vertical integration (search for similar items in EconPapers)
JEL-codes: L11 Q13 (search for similar items in EconPapers)
Date: 2018
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