Evaluation of Market Thinness for Hogs and Pork

摘要: We investigate thinness of hog and pork markets in terms quantity representativeness negotiated transactions. Transactional volume imparts marginally greater confidence pricing precision for Iowa-Southern Minnesota hogs than the national carcass cut-out, suggesting that contracts tying prices to former rather latter may be more representative industry conditions. Extending mandatory price reporting remedy this discrepancy. Despite declining volume, terminal accurately off prices. Hog quality differentials across procurement methods are documented, is shown decline with volume.