dc.contributor.author | Bullock, J. Bruce, 1940- | eng |
dc.coverage.spatial | United States | eng |
dc.date.issued | 2003-05 | eng |
dc.description | This revision is dated May 28, 2003. | eng |
dc.description.abstract | CConventional wisdom holds that a small and decreasing number of hog slaughter firms are using their �market power� to take advantage of U.S. hog producers. Existing studies have simply calculated industry concentration ratios and assumed/asserted that the performance of such a concentrated industry must be different from the performance of a perfectly competitive
industry. These researchers have rejected without testing the hypothesis that: the observed performance of the U.S. hog slaughter industry is not different from the performance that would be generated by a perfectly competitive industry. This paper derives the theoretical relationships between hog and pork prices, and hence the farm-wholesale price spread, that would exist in a perfectly competitive slaughter hog market. These performance norms are then confronted with observed weekly price/quantity relationships over the 1991-2001 period to compare observed market performance with the ideal performance norms derived from the economic theory of a perfectly competitive market. Based on the market performance measures derived from economic theory of a perfectly competitive market, the hypothesis that the U.S. hog slaughter hog market is a perfectly competitive market cannot be rejected. There simply is not any evidence to support allegations of abuse of market power by meat packers. | eng |
dc.identifier.citation | J. Bruce Bullock, "Performance Evaluation of the U.S. Hog Slaughter Industry," Department of Agricultural Economics Working Paper No. AEWP 2003-1, May 2003. | eng |
dc.identifier.uri | http://hdl.handle.net/10355/8976 | eng |
dc.language | English | eng |
dc.relation.ispartofcollection | Agricultural Economics publications (MU) | eng |
dc.relation.ispartofcommunity | University of Missouri-Columbia. College of Agriculture, Food and Natural Resources. Division of Applied Social Sciences. Department of Agricultural Economics | eng |
dc.relation.ispartofseries | Department of Agricultural Economics working paper ; no. AEWP 2003-01 | eng |
dc.subject | pork packers | eng |
dc.subject | pork production | eng |
dc.subject.lcsh | Pork industry and trade -- Economic aspects | eng |
dc.subject.lcsh | Pork -- Prices | eng |
dc.title | Performance Evaluation of the U.S. Hog Slaughter Industry | eng |
dc.type | Working Paper | eng |