DID THE VOLUNTARY PRICE REPORTING SYSTEM FAIL TO PROVIDE PRICE TRANSPARENCY IN THE CASH MARKET FOR DRESSED STEERS: EVIDENCE FROM SOUTH DAKOTA

The information value of the former USDA voluntary price reporting system is investigated for dressed weight slaughter steers. The ability of the former system to promote market transparency and price discovery in the cash market is evaluated with state level mandatory price reporting data collected from September 1999 to April 2001. The empirical framework evaluates the informational value of public price reports according to the criteria established in the market integration literature. The empirical results indicate that in the cash market for dressed weight steers, in South Dakota and Nebraska the former voluntary price reporting system did foster market transparency and aided in the price discovery process.


Issue Date:
2003
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/32012
Total Pages:
21
Series Statement:
Economics Staff Paper 2003-5




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

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