Supply Response in the U.S. Sheep Industry

1989 ◽  
Vol 71 (1) ◽  
pp. 126-135 ◽  
Author(s):  
Glen D. Whipple ◽  
Dale J. Menkhaus
Keyword(s):  
Supply Response ◽  
Sheep Industry ◽  
The U.S

scholarly journals Three essays on spatial, vertical price transmission and asymmetric supply response in livestock sectors

2017 ◽  
Author(s):  
◽  
Jongyeol Yoon
Keyword(s):  
Structural Change ◽  
Error Correction ◽  
Price Transmission ◽  
Price Adjustment ◽  
Supply Response ◽  
Threshold Autoregressive ◽  
Long Run ◽  
Short Run ◽  
The U.S ◽  
Long Run Equilibrium

The objective of this dissertation is to examine efficient price transmission mechanism and efficient supply system in livestock sectors. The first essay investigates market integration and spatial price transmission in beef trade among the TPP countries (Australia, United States, Canada, New Zealand, and Japan) by using monthly beef prices. The estimates of the magnitude and the short-run speed of adjustment for one price to the shocks of another between two countries is useful information in assessing how well change in one price is transmitted to another and what types of price transmission (symmetry or asymmetry) occur in beef trade. This helps to identify the existence of potential market inefficiencies that result from asymmetric adjustment and which country leads the price relationship in beef trade. For this purpose, Engle-Granger and Johansen co-integration tests are conducted. In addition, threshold autoregressive (TAR) model and momentum threshold autoregressive (M-TAR) model, and asymmetric (or symmetric) error correction model (ECM) are estimated to examine the patterns of price adjustment. The findings indicate that the all pairs of prices are found to be statistically significant for the co-integration test. This suggests that there a long-run equilibrium relationship between pairs of price series and the various types of beef traded by the TPP countries are likely to be substituted for each other in each market. In addition, the results of the TAR and M-TAR models provide sufficient empirical evidence in support of asymmetric pricing behavior in beef trade among the TPP countries, mostly showing that the rate of adjustment to negative shocks to long-run equilibrium tends to occur more rapidly than that for the positive price shocks among the TPP countries. To examine the short-run dynamic of beef trade among the TPP countries, two types of the ECM are estimated. The estimates of the error correction terms indicate that the response of one price depends on either positive shocks or negative shocks in another price among the bilateral relationships analyzed, and they show different speeds of adjustment to the long-run equilibrium and different price leadership, respectively. The asymmetric pattern of price adjustment may attribute to product differentiation through different feeding methods, trade policy, and market concentration in each country. Due to these factors, relatively slow speed of price adjustment to the equilibrium can cause potential losses to market participants in each market, and therefore it should be corrected in order to improve market efficiency in beef trade among the TPP countries. The second essay aims to investigate asymmetric supply response of cattle, hog, and chicken in the U.S. This concern can be described in the context of structural change of U.S. meat markets. That is, the move to larger operations that have resulted from the economies of scale that exist in many of these sectors today results in an inability to adjust to low prices because of the high capital outlays associated with the large facilities yet these same economies of scale allow for quick expansion in periods of high prices. For this purpose, the threshold autoregressive (TAR) model and momentum threshold autoregressive (M-TAR) model are performed. The empirical results of the M-TAR model suggests that there is the evidence in support of the presence of asymmetric supply of hog and chicken. In contrast, the M-TAR model supports symmetric supply response for cattle. Only the finding for hog industry is consistent with the a priori expectation that the positive deviation from the long-run equilibrium created by the producers' expectation of high profitability may tend to quickly adjust to a new equilibrium while the negative discrepancy created by the producers' expectation of low profitability tends to persist. Overall, the empirical results suggest that there is evidence in support of symmetric supply response for cattle industry, while there is the presence of asymmetric supply response for hog and chicken industry. These findings imply that the recent structural change in cattle industry contribute to improving the production efficiency for cattle, but in hog and chicken industry, there might exist potential production inefficiencies. The purpose of third essay is to examine asymmetric price transmission in the U.S. pork market. The motivation of this study is found in the structural change in the U.S. pork market that is characterized by more extensive and intensive operations, consolidation of the small and medium scale producers, and the many mergers and acquisitions of meat packers and retailers. In consideration of the various stages of the market linked primarily by price mechanisms, the degree and the speed of adjustment to which prices are transmitted in the marketing chain can play a role in understanding how price transmission works in terms of market efficiency and in assessing direction and distribution of welfare effects in a normative fashion. For this purpose, threshold co-integration analysis is applied by allowing for asymmetric pattern of price adjustment towards a long-run equilibrium in the price relationship between farm and wholesale, and retail levels. The asymmetric error correction model is specified to estimate the short-run adjustment speed of price response towards a long-run steady state. The empirical findings suggest that there might be asymmetric price adjustment in the U.S. pork market while its pattern appears to be different across marketing channels. That is, the response of wholesalers tends to be quicker to increases in producer price (i.e., margin squeezing) than to decreases in producer prices (i.e., margin stretching), while wholesale prices respond more quickly to decreases in retail prices. These may be generally understood in the presence of non-competitive pricing behavior of agents at a certain chain beyond farm gate. Such findings imply that the recent structural changes in the U.S. pork market may hinder efficient price transmission mechanism across the marketing channels.

Historical Introduction

1977 ◽  
Vol 35 ◽  
pp. 2-5
Author(s):  
R. D. Heidenreich
Keyword(s):  
Electron Emission ◽  
Secondary Electron ◽  
Secondary Electron Emission ◽  
50Th Anniversary ◽  
Secondary Emission ◽  
Wave Nature ◽  
Nobel Prize In Physics ◽  
Primary Electrons ◽  
The U.S ◽  
Mutual Agreement

This program has been organized by the EMSA to commensurate the 50th anniversary of the experimental verification of the wave nature of the electron. Davisson and Germer in the U.S. and Thomson and Reid in Britian accomplished this at about the same time. Their findings were published in Nature in 1927 by mutual agreement since their independent efforts had led to the same conclusion at about the same time. In 1937 Davisson and Thomson shared the Nobel Prize in physics for demonstrating the wave nature of the electron deduced in 1924 by Louis de Broglie.The Davisson experiments (1921-1927) were concerned with the angular distribution of secondary electron emission from nickel surfaces produced by 150 volt primary electrons. The motivation was the effect of secondary emission on the characteristics of vacuum tubes but significant deviations from the results expected for a corpuscular electron led to a diffraction interpretation suggested by Elasser in 1925.

Variations in Surface Textures of Quartz Sand using Electron Microscopy

1970 ◽  
Vol 28 ◽  
pp. 494-495
Author(s):  
Eugene J. Amaral
Keyword(s):  
Electron Microscopy ◽  
Glass Industry ◽  
Glass Slide ◽  
Distilled Water ◽  
Early Paleozoic ◽  
Secondary Effects ◽  
Surface Textures ◽  
High Silica ◽  
Sand Deposit ◽  
The U.S

Examination of sand grain surfaces from early Paleozoic sandstones by electron microscopy reveals a variety of secondary effects caused by rock-forming processes after final deposition of the sand. Detailed studies were conducted on both coarse (≥0.71mm) and fine (=0.25mm) fractions of St. Peter Sandstone, a widespread sand deposit underlying much of the U.S. Central Interior and used in the glass industry because of its remarkably high silica purity.The very friable sandstone was disaggregated and sieved to obtain the two size fractions, and then cleaned by boiling in HCl to remove any iron impurities and rinsed in distilled water. The sand grains were then partially embedded by sprinkling them onto a glass slide coated with a thin tacky layer of latex. Direct platinum shadowed carbon replicas were made of the exposed sand grain surfaces, and were separated by dissolution of the silica in HF acid.

The Effects of Estradiol on Chronically Damaged Human Fallopian Tubes: A SEM Study

1985 ◽  
Vol 43 ◽  
pp. 648-649
Author(s):  
A. Toledo ◽  
G. Stoelk ◽  
M. Yussman ◽  
R.P. Apkarian
Keyword(s):  
Menstrual Cycle ◽  
Epithelial Cell ◽  
Secretory Cell ◽  
Estrogen Therapy ◽  
Fallopian Tubes ◽  
Cell Surfaces ◽  
Proliferative Phase ◽  
Cyclic Patterns ◽  
Sem Study ◽  
The U.S

Today it is estimated that one of every three women in the U.S. will have problems achieving pregnancy. 20-30% of these women will have some form of oviductal problems as the etiology of their infertility. Chronically damaged oviducts present problems with loss of both ciliary and microvillar epithelial cell surfaces. Estradiol is known to influence cyclic patterns in secretory cell microvilli and tubal ciliogenesis, The purpose of this study was to assess whether estrogen therapy could stimulate ciliogenesis in chronically damaged human fallopian tubes.Tissues from large hydrosalpinges were obtained from six women undergoing tuboplastic repair while in the early proliferative phase of fheir menstrual cycle. In each case the damaged tissue was rinsed in heparinized Ringers-lactate and quartered.

Antitrust: U.S. Supreme Court Affirms FTC Jurisdiction but Vacates Scope of Analysis on CDA Policy

1999 ◽  
Vol 27 (2) ◽  
pp. 197-198
Author(s):  
Joseph R. Zakhary
Keyword(s):  
Public Relations ◽  
Supreme Court ◽  
Federal Trade Commission ◽  
Ninth Circuit ◽  
Court Of Appeals ◽  
For Profit ◽  
Rule Of Reason ◽  
Antitrust Analysis ◽  
Business Financing ◽  
The U.S

In California Dental Association v. FTC, 119 S. Ct. 1604 (1999), the U.S. Supreme Court reviewed a decision by the U.S. Court of Appeals for the Ninth Circuit that a nonprofit affiliation of dentists violated section 5 of the Federal Trade Commission Act (FTCA), 15 U.S.C.A. § 45 (1998), which prohibits unfair competition. The Court examined two issues: (1) the Federal Trade Commission's (FTC) jurisdiction over the California Dental Association (CDA); and (2) the proper scope of antitrust analysis. The Court unanimously held that CDA was subject to FTC's jurisdiction, but split 5-4 in its finding that the district court's use of abbreviated rule-of-reason analysis was inappropriate.CDA is a voluntary, nonprofit association of local dental societies. It boasts approximately 19,000 members, who constitute roughly threequarters of the dentists practicing in California. Although a nonprofit, CDA includes for-profit subsidiaries that financially benefit CDA members. CDA gives its members access to insurance and business financing, and lobbies and litigates on their behalf. Members also benefit from CDA marketing and public relations campaigns.

Life Beyond 1MeV

1980 ◽  
Vol 38 ◽  
pp. 30-33
Author(s):  
K.H. Westmacott
Keyword(s):  
Electron Microscopy ◽  
Past Experience ◽  
The Other ◽  
Good Case ◽  
Other Hand ◽  
The U.S

Life beyond 1MeV – like life after 40 – is not too different unless one takes advantage of past experience and is receptive to new opportunities. At first glance, the returns on performing electron microscopy at voltages greater than 1MeV diminish rather rapidly as the curves which describe the well-known advantages of HVEM often tend towards saturation. However, in a country with a significant HVEM capability, a good case can be made for investing in instruments with a range of maximum accelerating voltages. In this regard, the 1.5MeV KRATOS HVEM being installed in Berkeley will complement the other 650KeV, 1MeV, and 1.2MeV instruments currently operating in the U.S. One other consideration suggests that 1.5MeV is an optimum voltage machine – Its additional advantages may be purchased for not much more than a 1MeV instrument. On the other hand, the 3MeV HVEM's which seem to be operated at 2MeV maximum, are much more expensive.

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