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Market analysis of alfalfa hay: California case
Author(s) -
Konyar Kazim,
Knapp Keith
Publication year - 1988
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/1520-6297(198805)4:3<271::aid-agr2720040306>3.0.co;2-n
Subject(s) - hay , autoregressive integrated moving average , alfalfa hay , economics , econometric model , econometrics , econometric analysis , time series , agribusiness , agricultural economics , statistics , mathematics , agriculture , agronomy , geography , biology , archaeology , fermentation , rumen , food science
Factors influencing alfalfa hay markets are identified. Alfalfa hay acreage response, demand, and price forecasting models are developed and estimated for California, using econometric and time‐series (ARIMA) techniques. The estimated models are used for forecasting alfalfa acreage and prices, and evaluating the dominant market forces. The econometric and time‐series models are compared on the basis of their forecasting ability and usefulness in economic analysis.