Suchergebnisse

AbstractDeliveries on the CME live cattle contract respond to the delivery month basis, discounts for yield grade 4 carcasses, and limited seasonal influences. Modification of the contract to tighten quality standards resulted in a decline in the response of deliveries to the yield grade 4 carcass discounts. The certificate delivery system appears to have had no significant effect on the total number of deliveries. Analysis of spatial combinations of delivery points suggests that markets east of the Mississippi River respond to different factors than the western markets.

AbstractWe study beef packing margins before and after mandatory price reporting (MPR) was implemented in 2001 using a model that identifies and tests for switching between cooperative and non‐cooperative regime pricing. Our results show that after MPR took effect, the duration of non‐cooperative regimes was considerably shorter, while cooperative regimes were longer. Oligopsonistic rent, as measured by average economic profit, rose from $0.88/head in the 1990s to $2.59/head after 2001. While MPR is not likely the sole cause for such an increase, there was clearly more market power being exercised in fed cattle markets in the years after the program was implemented than before.

June 2003. ; Originally published under series title: Agricultural and resource policy report, APR 03-06. ; Includes bibliographical references.

AbstractFarm bill programs impacting beef cattle producers have been dispersed throughout previous farm bills. Greater attention on cattle markets in recent years is likely to lead to increased debate on beef cattle topics ahead of the 2023 Farm Bill. We examine cattle topics found in previous farm bills as indicators of future farm bill inclusion. We then discuss recent market events and resulting policy requests by producers. We subsequently focus on current topics that seem likely to spill over into farm bill debate, and we finish with suggestions regarding where agricultural economists can provide useful input into the policy process.