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Daily Pricing Relationships in Illinois Hog Markets
Raymond M. Leuthold
Illinois Agricultural Economics
Vol. 10, No. 1 (Jan., 1970), pp. 1-4
Stable URL: http://www.jstor.org/stable/1348909
Page Count: 4
You can always find the topics here!Topics: Market prices, Hogs, Prices, Wholesale prices, Modeling, Economic fluctuations, Supply, Economic models, Average prices, Agricultural economics
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Correlation analysis is used in an attempt to trace daily price information flows among major hog markets both within and outside of Illinois. The results indicate that price information flows from east to west during the day, and from west to east with a one-day lag involved. With the use of an econometric model the daily demand for slaughter hogs at the Chicago and East St. Louis terminal markets was found to depend upon lagged wholesale prices, weight, quantity supplied, storage, pricing information, and the day of the week. Daily quantity supplied by producers depends upon lagged live prices and the day of the week. The results of the model are used as a basis for predicting daily price and quantity fluctuations for one year at the two markets.
Illinois Agricultural Economics © 1970 Agricultural & Applied Economics Association