The impact of fluctuating grain and soybean prices on livestock producers and consumers in the U.S
1983
Spathis, Paul D.
Extract: The research results reported in this report deal with the potential costs to livestock feeders and consumers of unrestricted exports. A simulation model has been developed for this purpose. It is based on what happened to livestock production in the 1970s when feed ingredient prices changed dramatically. To provide the coefficients for the simulation model, three sets of relationships were estimated. First, regression procedures were employed to determine the relationship between corn and soybean prices and livestock feed ingredient prices. Second, a model was developed to assess how rapidly and to what extent livestock production falls as feed prices rise. Finally, the historical relationship between changes in livestock output (by sectors) and retail meat and livestock product prices was estimated in order to provide a basis for assessing the potential impact of changes in livestock output on consumer food costs.
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