Beef Packers’ Captive Supplies: An Upward Trend? A Pricing Edge?

Livestock Production/Industries,

COMPARATIVE ANALYSIS OF SLAUGHTER LAMB PRICES

Data on weekly summaries of slaughter lamb sales in 1996 were analyzed to determine price differences for factors affecting lamb prices. Models were compared with a 1991 study and across regions. Demand and supply variables were found important as well as marketing methods, sale lot sizes, seasonal and regional variables.Livestock Production/Industries,

Factors Influencing the Extent of Grid Pricing of Fed Cattle

Motives for grid pricing of fed cattle have been identified in previous research. Also, estimates of grid pricing exist from feedlot surveys and data generated via mandatory price reports since 2001. However, no research has attempted to estimate factors influencing the extent of grid pricing by cattle feeders. Cattle feedlot respondents to a survey primarily in Nebraska, Colorado, Kansas, and Texas reported a wide range of grid pricing use in 2003. Two groups of feedlot respondents were created; those using grid pricing for half or less of their fed cattle marketings in 2003 and those using grid pricing for more than half of their marketings. Ordinary least squares and ordered logit models were estimated to determine factors affecting grid pricing use for the two comparison groups. For many potential factors influencing grid pricing, no significant differences were found between groups. The two most robust factors were the percent of fed cattle sold to the largest buyer and the percent of fed cattle marketed with some type of agreement, contract, or through an alliance or cooperative. Other significant factors related to market conditions and expected carcass performance of the cattle. However, results were neither consistent nor strong enough to explain the sharp drop in formula pricing fed cattle during the third year following implementation of mandatory price reporting.Livestock Production/Industries, Marketing,

AN EMPIRICAL STUDY OF COMPETITION IN THE PRICE DISCOVERY PROCESS FOR SLAUGHTER LAMBS

Buyer competition in the price discovery process for slaughter lambs at an Oklahoma teleauction was studied. Number of buyers positively influenced both absolute and relative sale prices but did not significantly affect buyer gross margins. Buyer market shares also affected prices paid and buyer gross margins. Thus, competition among buyers was found to be important in the price discovery process.Demand and Price Analysis, Livestock Production/Industries,

Supply Effects on Price Discovery and Pricing Choice for Fed Cattle

Price discovery research related to fed cattle has involved data covering a relatively small portion of the longer cattle cycle. Thus, research has not explicitly addressed the impacts alternative supply conditions have on price discovery. Additionally, little research has addressed the pricing choices for fed cattle marketing or procurement. In research reported here using data from an experimental market, the Fed Cattle Market Simulator, models were estimated that encompassed live weight, dressed weight, and grid pricing under alternative supply scenarios, specifically a larger supply and smaller supply period. Variables explaining fed cattle price variation differed somewhat between the two supply periods. For the two periods combined, results were nearly as theoretically expected. One consistent finding was that higher quality fed cattle marketed with a grid brought higher prices in both supply periods. Similarly, some differences were noted in the pricing choice model between the two periods and the combined periods. Another consistent finding was that having lower quality cattle to market increased the probability of marketing them on a live weight basis. Higher quality cattle were more apt to be marketed with a grid.Livestock Production/Industries,

TOWARD A PERFORMANCE EVALUATION OF THE CARCASS BEEF MARKET - WEAK FORM TEST OF THE EFFICIENT MARKETS MODEL

Industrial Organization, Livestock Production/Industries,

Compaction and mobility in randomly agitated granular assemblies

We study the compaction and mobility properties of a dense granular material under weak random vibration. By putting in direct contact millimetric glass beads with piezoelectric transducers we manage to inject energy to the system in a disordered manner with accelerations much smaller than gravity, resulting in a slow compaction dynamics and no convection. We characterize the mobility inside the medium by pulling through it an intruder grain at constant velocity. We present an extensive study of the relation between drag force and velocity for different vibration conditions and sizes of the intruder.Comment: 4 pages, 6 figures, to appear in the proceedings of Powders and Grains 200