Determinants of Beef and Pork Brand Equity

A set of consumer-level characteristic demand models were estimated to determine the level of brand equity for pork and beef meat cuts. Results indicate that brand premiums and discounts vary by private, national, and store brands; and brand equity varies across meat cuts carrying the same brand name. Other results are that product size discounts are linear, meat items on sale are significantly discounted to non-sale items, specialty stores typically do not garner higher prices than supermarket/grocery store, and warehouse/super center stores typically premium price to supermarket/ grocery store.Demand and Price Analysis,

Effects of Meat Recalls on Futures Market Prices

The number of meat recalls has increased markedly in recent years. This research examines the impact of beef and pork recall announcements on nearby daily live cattle and lean hog futures market prices, respectively. Results indicate medium-sized beef recalls that are of serious health concerns have a marginally negative impact on short-term live cattle futures prices. However, results are not robust across recall size and severity. This research suggests that if there is any systematic change in cattle and hog demand due to meat recalls, it likely occurs over an extended period of time and only in certain cases does it noticeably affect daily futures prices.Agribusiness, Food Consumption/Nutrition/Food Safety,

GRID PRICING: VALUING CATTLE QUALITY INFORMATION

Grid pricing is increasingly prominent in cattle markets. This study compares selling 11,703 head of fed cattle using grid, live, and dressed weight pricing. Cattle sold on a grid had price variability twice that of live or dressed. Average pricing inefficiency by not selling cattle on a grid exceeded $30/head.Demand and Price Analysis, Livestock Production/Industries,

Expectations of Cattle Feeding Investors in Feeder Cattle Placements

Cattle feeders appear irrational when they place cattle on feed when projected profits are negative. Long futures positions appear to offer superior returns to cattle feeding investment. Cattle feeder behavior suggests that they believe a downward bias in live cattle futures persists and that cattle feeders use different information than the live cattle futures market price when making placement decisions. This paper examines feeder cattle placement determinants and compares performance of expected hedgeable profits with past actual profits in explaining feeder cattle' placements. Past actual profits are found to be more important placement determinants than expected profits based upon the live cattle futures market, even though hedgeable profits provide superior forecasts of future profits.Livestock Production/Industries,

Impact of Mandatory Price Reporting on Fed Cattle Market Integration

Geographic fed cattle markets are important because cattle are bulky and perishable, and production and consumption areas are separated. These characteristics make cattle transportation costly and can contribute to segmented markets. This study uses USDA-AMS reported fed cattle market price data from five U.S. regional fed cattle markets to investigate the effects of mandatory price reporting on spatial market integration. Results indicate these markets have been, and remain, highly cointegrated after implementation of mandatory price reporting (MPR). Following introduction of mandatory price reporting, the five regional fed cattle markets have become more fully integrated (i.e., prices tend to move more closely one-for-one following introduction of MPR).cattle markets, cointegration, mandatory price reporting, market integration, regime shift, Livestock Production/Industries, Marketing,

Determinants of Beef and Pork Brand Equity

Brand Equity, Pork, Beef, Hedonic Modeling, Livestock Production/Industries, Marketing,

Archival of Seasat-A satellite scatterometer data merged with in situ data at selected, illuminated sites over the ocean

A large data base of Seasat-A Satellite Scatterometer (SASS) measurements merged with high-quality surface-truth wind, wave, and temperature data has been documented. The data base was developed for all times when selected in situ measurement sites were within the SASS footprint. Data were obtained from 42 sites located in the coastal waters of North America, Australia, Western Europe, and Japan and were assembled by correlating the SASS and surface-truth measurements in both time and distance. These data have been archived on a set of nine-track 6250 bpi ASCII coded magnetic tapes, which are available from the National Technical Information Service

EFFECTS OF MEAT RECALLS ON FUTURES MARKET PRICES

The number of meat recalls has increased markedly in recent years. Meat recalls have the potential to adversely affect short run demand for meat because of the associated decline in consumer confidence. This research examines the impact of beef and pork recalls on nearby daily live cattle and lean hog futures market prices, respectively. Results indicate that medium sized beef and large pork recalls that are a serious health concern have a marginally negative impact on short-term live cattle and lean hog futures prices, respectively. However, results are not robust across recall size and severity. This research suggests that if there is any systematic significant change in beef and pork demand due to meat recalls, it likely occurs over an extended period of time and only in certain cases does it noticeably affect daily futures prices.meat recalls, event study, meat demand, Livestock Production/Industries, Marketing,

EFFECT OF CAPTIVE SUPPLY ON FARM-TO-WHOLESALE BEEF MARKETING MARGIN

Debates about captive supplies have been ongoing for more than a decade. This study investigates the effects captive supplies have on the beef farm-to-wholesale marketing margin. A relative price spread (RPS) model is used to estimate beef farm-to-wholesale marketing margins. Estimates indicate that forward contracts and marketing agreements have a small positive relationship with margins that is marginally significant. Packer fed cattle may or may not be related to margins to depending upon model specification.Livestock Production/Industries, Marketing,

CATTLE FEEDER BEHAVIOR AND FEEDER CATTLE PLACEMENTS

Cattle feeders appear irrational when they place cattle on feed when projected profit is negative. Long futures positions appear to offer superior returns to cattle feeding investment. Cattle feeder behavior suggests that they believe a downward bias in live cattle futures persists and that cattle feeders use different expectations than the live cattle futures market price when making placement decisions. This study examines feeder cattle placement determinants, comparing performance of expected hedgeable profit with past actual profit in explaining feeder cattle placements. Past actual profit is a more important placement determinant than expected profit based upon the live cattle futures market, even though hedgeable profit provides a superior forecast of future profit. In addition, potential deterrents to cattle feeders'Â’ use of futures as a substitute for cattle ownership are discussed.Livestock Production/Industries,