Buyer concentration at feeder cattle auctions

The influence of buyer concentration in two large feeder cattle auctions on feeder cattle prices at the auctions was investigated. Buyer concentration increased slightly for steers and heifers at one of the auctions between 1987 and 1989 and the increased concentration was estimated to have depresse...

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Bibliographic Details
Published in:Applied economic perspectives and policy 1993-01, Vol.15 (1), p.103-119
Main Authors: Bailey, D.V, Brorsen, B.W, Fawson, C
Format: Article
Language:English
Subjects:
ACHAT
Auction markets
Bidding
BOVIN
Buyer concentration
Cattle auctions
COMPRA
Feeder cattle
Feedlots
GANADO BOVINO
Market power
Market prices
Market share
MODELE MATHEMATIQUE
MODELOS MATEMATICOS
PRECIOS
PRECIOS DE MERCADO
PRIX
PRIX DE MARCHE
Steers
SUBASTAS
VENTE AUX ENCHERES
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Summary:The influence of buyer concentration in two large feeder cattle auctions on feeder cattle prices at the auctions was investigated. Buyer concentration increased slightly for steers and heifers at one of the auctions between 1987 and 1989 and the increased concentration was estimated to have depressed prices an average of $0.05/cwt. Overall, prices at the other auction were depressed by an average of $0.44/cwt. between 1988 and 1989 due to increasing concentration at the auction.
ISSN:1058-7195
2040-5790
1467-9353
2040-5804
DOI:10.2307/1349715