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Abstract

The objective of this paper is to identify the effect of livestock mandatory price reporting (MPR) on cattle cash prices. Using the lag augmented vector autoregression (LA-VAR) and the historical decomposition, we find that there exist a steady increase in cattle prices after MPR in 2001. Initial (2001-mid 2002) periods of lower ‘actual’ prices respond to historical record supply in markets from 1) unexpected large number of cattle on feed, 2) heavier carcass per cattle, and 3) drop in exports.

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