Replaced with revised version of paper 06/04/09.

Prices for Choice and Select grade fed cattle are derived from wholesale and retail beef markets. Choice-Select price discounts are a key component of fed cattle pricing, whether packers purchase fed cattle on a live weight, dressed weight, or grid. This study identifies supply, demand, and...

Reduced reliance on cash market prices for fed cattle and hogs raise questions about the role of cash prices in price discovery. We use seven years of weekly data from mandatory price reports to determine whether or not cash market prices are cointegrated with other procurement prices and then...

Steel is used as a case study to decompose the links between primary and secondary markets, in order to examine how prices in the one market influence the prices in the other, and how volatility can be transmitted between them.

Replaced with revised version of paper 04/21/04.