Comparing Two Sources of Retail Meat Price Data

William Hahn (), Janet Perry and Leland W. Southard

No 55958, Economic Research Report from United States Department of Agriculture, Economic Research Service

Abstract: The livestock industry uses information on meat prices at different stages in the marketing system to make production decisions. When grocery stores began using electronic scanners to capture prices paid for meat, it was assumed that the livestock industry could capitalize on having these point-of-sale data available as a measure of the value of its products. This report compares scanner price data with publicly available data collected by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). Of the two data types, scanner data provide more information about retail meat markets, including a wider variety of meat-cut prices, multiple measures of an average price, the volume of sales, and the relative importance of discounted prices. The scanner data sample, however, is not statistically drawn, and complicated processing requirements delay its release, which makes scanner data less useful than BLS data for analyzing current market conditions.

Keywords: Agricultural and Food Policy; Agricultural Finance; Livestock Production/Industries; Marketing (search for similar items in EconPapers)
Pages: 36
Date: 2009-11
New Economics Papers: this item is included in nep-mkt
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersrr:55958

DOI: 10.22004/ag.econ.55958

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