After over eight years of trading, the Chicago Mercantile Exchange butter futures contract remains thinly traded, possibly impeding price discovery. Pricing efficiency was assessed using cointegration techniques and error correction models. Results suggest that market efficiency could not be...

For a majority of farm families and operators in OECD countries, off-farm or non-farm occupations have become a significant source of income and a major determinant of their well being. This study investigates the use of off-farm employment as a risk management tool by farm operators. A two-part...

In the paper we provide an explanation of the persistence of the commodity titles in US farm bills that is grounded in core theories of the policy process from the political science literature. The political science literature explains policy continuity and policy change from a number of...

A residual-demand model for beef exporters to Japan is specified to estimate market power. The analysis is disaggregated by beef cut and form. The results indicate U.S. frozen-ribs category enjoys the highest markup of price over marginal cost, while Australia and New Zealand have some market...

Replaced with revised version of paper 02/13/07.

This study investigates effects of the world crude oil price on feed grain prices and pork prices in China. The results from time series techniques show the influences of crude oil price are not significant over the study period. The pork demand and supply result in the skyrocketing pork price.

This study tests the hypothesis that competition policy positively impacts a country's production and export competitiveness. The results show that competition policy has a significantly positive impact on manufacturing production. The results also show that exports for both total manufacturing...

Our previous research found that FMD Outbreaks in foreign countries have a significant positive influence on U.S. swine meat exports. However, not all of these FMD-affected countries adopted the same treatment policy to ease domestic FMD issues. This study proposes a gravity model with...