Persistent Link:
http://hdl.handle.net/10150/291614
Title:
Spatial integration of feeder cattle markets
Author:
Kelso, George Seaton, 1964-
Issue Date:
1990
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
Previous analyses of market integration often ignore the spatial aspect of economic activity. A model of imperfect competition with changed implications for pricing structures is used to analyze spatial pricing relationships between ten feeder cattle markets. The econometric model is applied to reveal price structures over a six year period, a two year period, and to identify changes in price structures corresponding with the change from physical delivery to cash settlement of feeder cattle futures contracts. The six year analysis indicates that all markets are integrated through a lagged adjustment process. The two year analysis reveals short-term patterns of price independence or nearly instantaneous price matching among some locations. The change to cash settlement corresponds with changes towards either independence or instantaneous price matching activity for the markets involved. Four high volume central plains locations act as an integrated central market which the other locations match.
Type:
text; Thesis-Reproduction (electronic)
Keywords:
Economics, General.; Economics, Agricultural.
Degree Name:
M.S.
Degree Level:
masters
Degree Program:
Graduate College; Agricultural Economics
Degree Grantor:
University of Arizona
Advisor:
Thompson, Gary D.

Full metadata record

DC FieldValue Language
dc.language.isoen_USen_US
dc.titleSpatial integration of feeder cattle marketsen_US
dc.creatorKelso, George Seaton, 1964-en_US
dc.contributor.authorKelso, George Seaton, 1964-en_US
dc.date.issued1990en_US
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractPrevious analyses of market integration often ignore the spatial aspect of economic activity. A model of imperfect competition with changed implications for pricing structures is used to analyze spatial pricing relationships between ten feeder cattle markets. The econometric model is applied to reveal price structures over a six year period, a two year period, and to identify changes in price structures corresponding with the change from physical delivery to cash settlement of feeder cattle futures contracts. The six year analysis indicates that all markets are integrated through a lagged adjustment process. The two year analysis reveals short-term patterns of price independence or nearly instantaneous price matching among some locations. The change to cash settlement corresponds with changes towards either independence or instantaneous price matching activity for the markets involved. Four high volume central plains locations act as an integrated central market which the other locations match.en_US
dc.description.noteDigitization Note: p.126 missing from paper original and microfilm version.-
dc.typetexten_US
dc.typeThesis-Reproduction (electronic)en_US
dc.subjectEconomics, General.en_US
dc.subjectEconomics, Agricultural.en_US
thesis.degree.nameM.S.en_US
thesis.degree.levelmastersen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.disciplineAgricultural Economicsen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.contributor.advisorThompson, Gary D.en_US
dc.identifier.proquest1339886en_US
dc.identifier.bibrecord.b26222140en_US
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