Mandatory Price Reporting, Market Efficiency, and Price Discovery in Livestock Markets

Kenneth Mathews , Wade Brorsen , William Hahn ; Carlos Arnade ; Erik Dohlman

United States Department of Agriculture

关键词: Beef;    Cattle;    Causality;    Error Corrections Model;    Futures Prices;    Hogs;    Livestock Mandatory Reporting;    Livestock Mandatory Reporting Act;    Livestock sellers;    Meatpackers;    Pork;    Price Discovery;    State-Space Model;    Vector autoregression;   

RP-ID  :  LDPM-254-01

学科分类：农业科学（综合）

美国|英语

来源: United States Department of Agriculture Publications

【 摘 要 】

This report analyzes livestock market price behavior and price discovery before and after the implementation of the 1999 Livestock Mandatory Reporting Act (LMRA). The LMRA was passed in response to concerns about a lack of public disclosure regarding alternative marketing arrangements, as well as concerns about concentration in the meat packing industry. The LMRA is up for renewal in 2015.