Monthly Supply-Demand Relationships for Fed Cattle and Hogs

Marvin L. Hayenga and Duane Hacklander

American Journal of Agricultural Economics, 1970, vol. 52, issue 4, 535-544

Abstract: Monthly livestock supply, demand, and price variations reflect phenomena often not isolated in annual or quarterly time series analysis. A five-equation model of cattle and hog monthly supply and demand behavior at the live market level was estimated via two-stage least squares. Regular monthly demand fluctuations, income and population changes, and the slaughter supply per packer work day were found to affect cattle and hog prices. Marketing behavior by farmers was affected by feedlot inventories and the recent price change which apparently influenced their short-run price expectations and subsequent marketing response.

Date: 1970
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