This paper examines structural breaks in the vertical price relationships in U.S. beef/cattleand pork/hog sectors using monthly data of the past 40 years. A major methodologicalissue addressed is how to estimate price relationships when data contain intermittentstructural breaks with unknown...

This paper expands the contributions of Goodwin and Holt (AJAE, 1999) and Goodwin and Harper (J. of Ag. and Appl. Econ., 2000), GHH henceforth, who analyze retail-wholesale-farm price transmissions in the U.S. beef and pork industries using weekly data. First, in light of advancements in unit...

The U.S. pork sector is evolving from an industry of small, independent firms vertically linked by spot markets to one of substantially larger firms vertically connected through contractual agreements and integration. Potential benefits to this tighter vertical arrangement include lower consumer...

The U.S. pork sector is evolving from an industry of small, independent firms vertically linked by spot markets to one of substantially larger firms vertically connected through contractual agreements and integration. Potential benefits to this tighter vertical arrangement include lower consumer...

As the U.S. hog production sector becomes ever more specialized, the importance of capital inputs has heightened. Given that it is costly to adjust the capital stock and that the associated adjustment cost function may exhibit cost asymmetries between investment and disinvestment,...