Bidding for cattle in the Texas Panhandle

American Journal of Agricultural Economics

Volumn 86, Issue 3, 2004, Pages 660-674

  Crespi, John M ^a   Sexton, Richard J ^b  

^a KANSAS STATE UNIVERSITY   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Auction; Beef packing; Bidding; Concentration; Market allocation; Oligopsony

Indexed keywords

AGRICULTURAL ECONOMICS; CATTLE; LIVESTOCK FARMING;

NORTH AMERICA; TEXAS; TEXAS PANHANDLE; UNITED STATES;

BOS TAURUS;

EID: 3242724865     PISSN: 00029092     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.0002-9092.2004.00609.x     Document Type: Article

References (30)

1. Azzam, A., and D. Anderson. "Assessing Competition in Meatpacking: Economic History, Theory and Evidence." U.S. Department of Agriculture, GIPSA-RR 96-6, May 1996.
2. Baldwin, L.H., R.C., Marshall, and J.-F. Richard. "Bidder Collusion at Forest Service Timber Auctions." Journal of Political Economy 105(1997):657-99.
3. Bernheim, B.D., and M.D. Whinston. "Multimarket Conduct and Collusive Behavior." Rand Journal of Economics 21(1990):1-26.
4. Bourgeon, J-M., and Y. Le Roux. "Tenders for European Cereal Export Refunds: A Structural Approach." European Review of Agricultural Economics 23(1996):5-26.
5. Bourgeon, J.-M., and Y. Le Roux. "Traders' Bidding Strategies on European Grain Export Refunds: An Analysis with Affiliated Signals." American Journal of Agricultural Economics 83(2001):563-75.
6. Capps, Jr., O., H.A. Love, G.W. Williams, and W.L. Adams. "Examining Factors Affecting Packer Choices of Slaughter Cattle Procurement and Pricing Methods." Agricultural and Resource Economics Review 28(1999):11-25.
7. Hunnicutt, L., D. Bailey, and M. Crook. "Measuring Market Power with Variables Other Than Price." Paper presented at the annual meetings of the American Agricultural Economics Association, Long Beach, CA, 29 July, 2002.
8. Klemperer, P. "Auction Theory: A Guide to the Literature." Journal of Economic Surveys 13(1999):227-86.
9. Laffont, J.-J., H. Ossard, and Q. Vuong. "Econometrics of First-Price Auctions." Econometrica 63(1995):953-80.
10. MacDonald, J.M., M.E. Ollinger, K.E. Nelson, and C.R. Handy. "Consolidation in Meatpacking." US. Department of Agriculture, Economic Research Service, Agricultural Economic Report No. 785, February 2000.
11. Monier-Dilhan, S., and H. Ossard. "Producers' Loss Due to Asymmetric Information: An Application to a Specific Case." European Review of Agricultural Economics 25(1998):155-69.
12. Morrison-Paul, C.J. "Market and Cost Structure of the U.S. Beef Packing Industry: A Plant-level Analysis." American Journal of Agricultural Economics 83(2001):64-76.
13. Pesendorfer, M. "A Study of Collusion in First-Price Auctions." Review of Economic Studies 67(2000):381-411.
14. Porter, R.H. "The role of Information in U.S. Offshore Oil and Gas Lease Auctions." Econometrica 63(1995):1-27.
15. Porter, R.H., and J.D. Zona. "Detection of Bid Rigging in Procurement Auctions." Journal of Political Economy 101 (1993 ):518-38.
16. Porter, R.H., and J.D. Zona. "Ohio School Milk Markets: An Analysis of Bidding." Rand Journal of Economics 30(1999):263-88.
17. Purcell, W.D. "Measures of Changes in Demand for Beef, Pork, and Chicken, 1975-2000." Research Bulletin 4-2000, Research Institute on Livestock Pricing, Virginia Tech University, December 2000.
18. Riley, J.G., and W.F. Samuelson. "Optimal Auctions." American Economic Review 71(1981): 381-92.
19. Rosen, S., K.M. Murphy, and J.A. Scheinkman. "Cattle Cycles." Journal of Political Economy 102(1994):468-92.
20. Schroeter, J.R., and A. Azzam. "Econometric Analysis of Fed Cattle Procurement in the Texas Panhandle." Report submitted in fulfillment of Cooperative Agreement No. 98-PPD-01, US. Department of Agriculture, Grain Inspection, Packers and Stockyards Administration, November 1999.
21. Schroeter, J.R., and A. Azzam. "Captive Supplies and the Spot Market Price of Fed Cattle: The Plant-level Relationship." Agribusiness 19(2003a):489-504.
22. Schroeter, J.R., and A. Azzam. "Captive Supplies and Cash Market Prices for Fed Cattle: The Role of Delivery Timing Incentives?" Working Paper, July 2003b.
23. Schroeder, T.C., R. Jones, J. Mintert, and A.P. Barkley. "The Impact of Forward Contracting on Fed Cattle Prices." Review of Agricultural Economics 15(1993):325-37.
24. Sexton, R.J. "Industrialization and Consolidation in the U.S. Food Sector: Implications for Competition and Welfare." American Journal of Agricultural Economics 82(2000):1087-1104.
25. Ward, C.E. "Inter-Firm Differences in Fed Cattle Prices in the Southern Plains." American Journal of Agricultural Economics 74(1992):480-85.
26. Ward, C.E. "A Review of Causes for and Consequences of Economic Concentration in the U.S. Meatpacking Industry." Current Agriculture, Food & Resource Issues 3(2002):1-28.
27. Ward, C.E., and T. Schroeder. "Structural Changes in Cattle Feeding and Meat Packing." Oklahoma Cooperative Extension Service, Extension Facts WF-553, 2000.
28. Ward, C. E., S. R. Koontz, and T. C. Schroeder. "Impacts from Captive Supplies on Fed Cattle Transaction Prices." Journal of Agricultural and Resource Economics 23(1998):494-514.
29. Wilson, W.W., and B.L. Dahl. "Import Tenders and Bidding Strategies in Wheat." Review of Agricultural Economics 23(2001):441-57.
30. Wilson, W.W., and M.A. Diersen. "Competitive Bidding on Import Tenders: The Case of Minor Oilseeds." Journal of Agricultural and Resource Economics 26(2001):142-157.