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Buyer Concentration at Feeder Cattle Auctions
Author(s) -
Bailey DeeVon,
Brorsen B. Wade,
Fawson Chris
Publication year - 1993
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.2307/1349715
Subject(s) - common value auction , feeder cattle , business , economics , agricultural science , agricultural economics , microeconomics , environmental science
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.