COMPARATIVE FORECAST ACCURACY IN THE NEW SOUTH WALES PRIME LAMB MARKET

The market for Australian prime lamb is characterised by high production seasonality and a highly competitive retail demand. Because these factors often translate into substantial market variability, regular forecasts of supply and demand are important requirements of lamb market participants. There has been some forecasting activity in the state and national lamb markets but it has been a somewhat controversial activity. This paper assesses the comparative forecast accuracy of a range of methods in the New South Wales lamb market. The results indicate that no single method is clearly superior in all situations and the greatest scope for improving forecast accuracy in the New South Wales lamb market is through the use of combined econometric and naive approaches.


Issue Date:
1990-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22439
Published in:
Australian Journal of Agricultural Economics, Volume 34, Number 2
Page range:
103-117
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-24

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