Hostname: page-component-cd9895bd7-fscjk Total loading time: 0 Render date: 2024-12-29T06:30:41.702Z Has data issue: false hasContentIssue false
  • English
  • Français

Determination of the Value of Minimum Sire Accuracy Traits

Published online by Cambridge University Press:  26 January 2015

Lisa M. Elliott ,
Joe L. Parcell  and
David J. Patterson
Lisa M. Elliott
Affiliation:
Department of Economics, South Dakota State University, Brookings, South Dakota
Joe L. Parcell
Affiliation:
Department of Agricultural and Applied Economics, University of Missouri, Columbia, Missouri
David J. Patterson
Affiliation:
Department of Animal Sciences, University of Missouri, Columbia, Missouri
Get access Rights & Permissions [Opens in a new window]

Extract

Using Missouri Show-Me-Select Replacement Heifers Inc. sale data, this article uses hedonic modeling to assess the marginal implicit values of physical and genetic characteristics, expected performance characteristics of calves, and market factors to bred heifer price. In 2008, a higher quality standard, known as Tier II, was created combining minimum expected progeny difference (EPD) accuracies for a heifer's sire with previous heifer standards. Heifer characteristics and market factors as well as yearling and carcass weight EPDs were found to significantly influence heifer price. Results suggest that Tier II heifers receive a premium compared with traditional Show-Me-Select heifers.

Keywords

beefEPDhedonicproduct life cyclevalue-addedQ11Q13R32
Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 45 , Issue 2 , May 2013 , pp. 259 - 275
Copyright
Copyright © Southern Agricultural Economics Association 2013

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Avent, R.K., Ward, CE., and Lalman, D.L.. “Market Valuation of Preconditioning Feeder Calves.” Journal of Agricultural and Applied Economics 36,1(2004):173–83.CrossRefGoogle Scholar
Bailey, D., Peterson, M.C, and Brorsen, B.W.. “A Comparison of Video Cattle Auction and Regional Market Prices.” American Journal of Agricultural Economics 73,2(1991):465–75.CrossRefGoogle Scholar
Bowman, K.R., and Ethridge, D.E.. “A Characteristic Supplies and Demands in a Hedonic Framework: Market U.S. for Cotton Fiber Attributes.” American Journal of Agricultural Economics 74(1992):991–1002.Google Scholar
Chwelos, P.D., Berndt, E.R., and Cockburn, I.M.. “Faster, Smaller, Cheaper: An Hedonic Price Analysis of PDAs.” Applied Economics 40, 22(2008):2839–56.CrossRefGoogle Scholar
Court, A.T. “Hedonic Price Indexes with Automotive Examples,” in General Motors Corporation, The Dynamics of Automobile Demand, New York, 1939.Google Scholar
Dhuyvetter, K.C., and Schroeder, T.C. “Price-Weight Relationships for Feeder Cattle.” Canadian Journal of Agricultural Economics 48(2000):299–310.CrossRefGoogle Scholar
Dhuyvetter, K.C.Schroeder, T.C.Simms, D.D. Jr.Bolze, R.P., and Geske, J.. “Determinants of Purebred Beef Bull Price Differentials.” Journal of Agricultural and Resource Economics 21(1996):396–410.Google Scholar
Epple, D. “Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products.” The Journal of Political Economy 95(1987):59–80.CrossRefGoogle Scholar
Faminow, M.D., and Gum, R.L.. “Feeder Cattle Price Differentials in Arizona Auction Markets.” Western Journal of Agricultural Economics 11(1986):156–63.Google Scholar
Gedikoglu, H., and Parceli, J.. “Forecasting Future Sales and Profit for Value-Added Agriculture.” Journal of Food Distribution Research 40(2009):31–38.Google Scholar
Griliches, Z., ed. Price Indexes and Quality Change. Cambridge, MA: Harvard University Press, 1971.CrossRefGoogle Scholar
Ladd, G.W., and Martin, M.B.. “Prices and Demands for Input Characteristics.” American Journal of Agricultural Economics 58,1(1976):21–30.CrossRefGoogle Scholar
Lancaster, K.Consumer Demand: A New Approach. New York, NY: Columbia University Press, 1971.Google Scholar
Mendelsohn, R. “Estimating the Structural Equation of Implicit Markets and Household Production Functions.” The Review of Economics and Statistics 66(1984):673–77.CrossRefGoogle Scholar
Pakes, A. “A Reconsideration of Hedonic Price Indexes with an Application to PC's.” American Economic Review 93,5(2003):1578–96.CrossRefGoogle Scholar
Palmquist, R.B. “Estimating the Demand for the Characteristics of Housing.” The Review of Economics and Statistics 66(1984):394–404.CrossRefGoogle Scholar
Parceli, J., Dhuyvetter, K.C., Patterson, D., and Randle, R.. “The Value of Heifer and Calf Characteristics in Bred Heifer Prices.” The Professional Animal Scientist 22(2006):217–24.CrossRefGoogle Scholar
Parceli, J., Franken, J., Cox, M., Patterson, D., and Randle, R.. “Buyers’ Perceptions of Importance and Willingness-to-Pay for Certain Attributes of Source and Production Verified Bred Heifers.” Agricultural Economics 41,5(2010):463–70.CrossRefGoogle Scholar
Parceli, J., Franken, J., Schaefer, D., Patterson, D., John, M., Kerley, M., and Haden, K.. “Coordinating Sire Genetics in a Synchronized AI Program.” Journal of the American Society of Farm Managers and Rural Appraisers 74,1 (2011):136–48.Google Scholar
Parceli, J., Schroeder, T.C., and Hiner, F.. “Determinants of Cow-Calf Pair Prices.” Journal of Agricultural and Resource Economics 20(1995):328–40.Google Scholar
Rosen, S. “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition.” The Journal of Political Economy 82,1(1974):34–55.CrossRefGoogle Scholar
Schroeder, T.C.Mintert, CJ.Brazle, F., and Grunewald, O.. “Factors Affecting Feeder Cattle Price Differentials.” Western Journal of Agricultural Economics 13(1988):71–81.Google Scholar
Turner, S.C.McKissick, J., and Dykes, N.S.. “Reputation Selling in Feeder Cattle Tele-auctions.” Review of Agricultural Economics 15(1993):9–19.CrossRefGoogle Scholar
Ward, C.E. “Inter-Firm Differences in Fed Cattle Prices in Southern Plains.” American Journal of Agricultural Economics 74,2(1992):480–85.CrossRefGoogle Scholar
Waugh, F.V. “Quality Factors Influencing Vegetable Prices.” Journal of Farm Economics 10,2(1928):185–96.CrossRefGoogle Scholar