Hostname: page-component-848d4c4894-75dct Total loading time: 0 Render date: 2024-05-08T21:07:13.131Z Has data issue: false hasContentIssue false
  • English
  • Français

Estimating the Economic Value of Specific Characteristics Associated with Angus Bulls Sold at Auction

Published online by Cambridge University Press:  26 January 2015

Rodney Jones ,
Tyler Turner ,
Kevin C. Dhuyvetter  and
Thomas L. Marsh
Rodney Jones
Affiliation:
Department of Agricultural Economics, Kansas State University
Tyler Turner
Affiliation:
Department of Agricultural Economics, Kansas State University
Kevin C. Dhuyvetter
Affiliation:
Department of Agricultural Economics, Kansas State University
Thomas L. Marsh
Affiliation:
School of Economic Sciences, Washington State University
Get access

Abstract

The genetic traits of a purebred bull convey the reproductive and economic value to buyers. This study examines and compares the value of actual production weights (birth, weaning, and yearling weight), production expected progeny differences (EPDs) (birth, weaning, milk, and yearling), and ultrasound EPDs (carcass quality predictors) for purebred Angus bulls sold at auction. One EPD, birth weight, was valued by buyers more than its corresponding actual weight, though both actual weights and EPDs significantly impact price. Predictors of carcass quality were important in determining price. Finally, several individual animal factors and sale characteristics were significant in determining price.

Keywords

Angus bullscarcass characteristicsEPDsmarketing factorsproduction factorsQ10Q12
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 40 , Issue 1 , April 2007 , pp. 315 - 333
Copyright
Copyright © Southern Agricultural Economics Association 2008

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

American Angus Association. Sire Evaluation Report. Internet site: www.angussireresearch.com (Accessed June 28, 2007).Google Scholar
Beef Improvement Federation. Guidelines for Uniform Beef Improvement Programs, 8th ed. Athens, GA: Beef Improvement Federation, Publisher, 2002.Google Scholar
Benyshek, L.L., Johnson, M.H., Little, D.E., Bertrand, J.K., and Kriese, L.A. “Applications of an Animal Model in the United States Beef Cattle Industry.” Journal of Dairy Science 71,2(1988):35–53.Google Scholar
Breusch, T.S., and Pagan, A.R. “A Simple Test for Heteroscedasticity and Random Coefficient Variation.” Econometrica 47,5(1980):1287–94.Google Scholar
Chvosta, J., Rucker, R.R., and Watts, M.J. “Transaction Costs and Cattle Marketing: The Information Content of Seller-Provided Presale Data at Bull Auctions.” American Journal of Agricultural Economics 83,2(2001):286–301.Google Scholar
Dhuyvetter, K.C., Schroeder, T.C., Simms, D.D., Bolze, R.P., and Geske, J. “Determinants of Purebred Beef Bull Price Differentials.” Journal of Agricultural and Resource Economics 21,2(1996):396–410.Google Scholar
Greer, H.C., and Trapp, J.N. Impact of Alternative Grid Pricing Structures on Cattle Marketing Decisions. NCR-134 Conference proceedings, 2000. Internet site: www.farmdoc.uiuc.edu/nccc134/paperarchive.html (Accessed June 28, 2007).Google Scholar
Halvorsen, R., and Palmquist, R. “The Interpretation of Dummy Variables in Semilogarithmic Equations.” American Economic Review 70,3(1980):474–75.Google 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
Miller, D.M. “Reducing Transformation Bias in Curve Fitting.” The American Statistician 38,2(1984):124–26.Google Scholar
Quaas, R.L., and Pollak, E.J. “Mixed Model Methodology for Farm and Ranch Beef Cattle Testing Programs.” Journal of Animal Science 51,6(1980):1277–87.Google Scholar
Rosen, S. “Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition.” Journal of Political Economy 82,1(1974):34–55.Google Scholar
Schroeder, T.C., and Graff, J.L. “Value of Increased Pricing Accuracy in Fed Cattle.” Review of Agricultural Economics 22,1(2000):89–101.CrossRefGoogle Scholar
Turner, T.K. “Estimating the Economic Values Associated with EPDs for Angus Bulls at Auction.” M.S. thesis, Kansas State University, 2004.Google Scholar
Wallburger, A.M. “Estimating the Implicit Prices of Beef Cattle Attributes: A Case from Alberta.” Canadian Journal of Agricultural Economics 50,2(2002):135–49.Google Scholar