The Effects of the Dairy Termination Program on Live Cattle and Wholesale Beef Prices

John M. Marsh

American Journal of Agricultural Economics, 1988, vol. 70, issue 4, 919-928

Abstract: Distributed lags were used to estimate the beef price effects of the 1986-87 Dairy Termination Program. The model estimated the direct effects of dairy slaughter and indirect effects of fed and nonfed supply response on the feeder, slaughter, and carcass markets. The results showed that, without offsetting U.S. Department of Agriculture red meat purchases, price reductions would have ranged from about $1.60 to $4.00 per hundredweight but were reduced by one-half with the red meat purchases. If the Department of Agriculture had scheduled dairy slaughter more evenly over eighteen months, price reductions would have been 34% less.

Date: 1988
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