A source differentiated AIDS model is specified to estimate Japanese meat import demand. Block separability and product aggregation are rejected at conventional levels of significance. The model with the block substitutability restriction explains more than 95% of data variation. The empirical...

Two-stage utility maximization theory has been widely used in the literature to estimate import demand for agricultural commodities that are often inputs. This article examines the overlooked conceptual and empirical limitations of applying two-stage utility maximization theory to model the...

A space-time econometric model was developed for pine sawtimber timber prices of 21 geographically contiguous regions in the southern United States. The correlations between prices in neighboring regions helped predict future prices. The impulse response analysis showed that although southern...

This study focuses on estimating wholesale pork primal demand relationships in order to determine their own-quantity flexibilities, whether these flexibilities have changed over time, and seasonal price fluctuations. A set of equations for pork loin, rib, butt, ham, pork belly, and picnic...

This study uses a new market analysis methodology to examine price and trade relationships in eight Pacific Rim factor and product markets central to the Canadian and U.S. pork industries. The new method enables direct estimation of the frequencies with which a variety of market conditions...

Increased use of noncash-price procurement methods has concerned cattlemen for the past several years. This research estimated impacts of captive supplies on transaction prices for fed cattle. Negative relationships were found between transaction prices and percentage deliveries from the...

The informational content in live cattle and hog deferred futures prices is assessed using a direct test of incremental forecast ability for two- to twelve-month horizons. For 1976-2007, the results indicate that hog futures prices add incremental information at all horizons, but unique...

Recent evidence suggests that participants' misunderstanding of experimental auction mechanism can systematically bias auction results. We present a simple technique for testing whether field auction mechanism and, by extension, whether auction bids provide an unbiased estimate of participants'...

Analysis of U.S. feeder steer prices normally includes fed cattle prices and feed grain costs. An expanded econometric model which investigates finance cost, profit risk, hay cost, technology, and Mexican feeder cattle import shares is estimated. Results indicate statistical significance of...

U.S. fluid milk consumption has changed dramatically since the early 1970s. Whole milk accounted for over 81% of commercial fluid milk disappearance in 1970. By 1993, this percentage was less than 39%. A three-equation fluid milk demand system is estimated for fluid milks that vary by fat...