Skip to main content Accessibility help
×
Home

Price Determination in the U.S. Shrimp Market

  • Charles M. Adams (a1), Fred J. Prochaska (a1) and Thomas H. Spreen (a1)

Abstract

The monthly and quarterly price determination processes for 31–40 and 21–25 size classes of raw-headless shrimp were examined to determine price leadership between market levels. Causal relationships were assessed using Haugh-Pierce, Sims, and Granger methods. Price models at the retail, wholesale, and exvessel market levels were estimated. Economic factors analyzed were income, prices of competing products, landings and imports of raw headless shrimp, total retail supply, beginning stocks, and marketing costs.

Monthly prices generally exhibited unidirectional causality from exvessel to retail price. Quarterly prices were determined interdependently among market levels. Price responses between market levels were found to be symmetric with beginning stocks, landings, and imports of own-size shrimp the most important determinants of price.

Copyright

References

Hide All
Adams, C. M.Price Dynamics in the U.S. Shrimp Market.” Unpublished Ph.D. dissertation. Food and Resource Economics Department. University of Florida, Gainesville, Florida, 1984.
Bessler, D. A., and Brandt, J. A.. “Causality Tests in Livestock Markets.Amer. J. Agr. Econ., 64 (1982):140144.
Bessler, D. A., and Schrader, L. F.. “Relationship Between Two Price Quotes for Eggs.Amer. J. Agr. Econ., 62(1980):766771.
Box, G. E.P., and Jenkins, G. M.. Time Series Analysis—Forecasting and Control. San Francisco: Holden-Day, 1976.
Doll, J. P.An Econometric Analysis of Shrimp Ex-vessel Prices, 1950–1968.Amer J. Agr. Econ., 54(1972):431440.
Goldberger, A. S. Econometric Theory. New York: John Wiley and Sons, 1964.
Gollnick, H.Zur Statistischen Schätzung und Profung Irreversibler Nachfragefunktionen.Agronwirtschaft, 21(1972):227231.
Granger, C. W.J.Investigating Casual Relations by Econometric Models and Cross Spectral Methods.Econometrica, 37, 3(1969):424438.
Grant, W. E., and Griffin, W. L.. “A Bioeconomic Model of the Gulf of Mexico Shrimp Fishery.Trans. Amer. Fisheries Society, 108(1979):113.
Haugh, L. D.The Identification of Time Series Interrelationships with Special Reference to Dynamic Regression.” Ph.D. dissertation, University of Wisconsin-Madison, 1972.
Haugh, L. D., and Box, G. E.P.. “Identification of Dynamic Regression (Distributed Lag) Models Connecting Two Time Series.J. Amer. Stat. Assoc., 72(1977):121130.
Hopkins, J. C.An Econometric Analysis of the U.S. Shrimp Industry.” Master's thesis, Department of Agricultural Economics, Texas A&M University, 1980.
Keithly, W. R.Socioeconomic Determinants of At-Home Seafood Consumption: A Limited Dependent Variable Analysis of Existing and Latent Consumers.” Ph.D. dissertation, Food and Resource Economics Department, University of Florida, 1985.
Miller, S. E.Lead-Lag Relationships Between Pork Prices at the Retail, Wholesale, and Farm Levels.So. J. Agr. Econ., 12, 1(1980):7376.
Pierce, D. A.Relationships—and the Lack Thereof—Between Economic Time Series, with Special Reference to Money and Interest Rates.J. Amer. Stat. Assoc., 72(1977):1122.
Prochaska, F. J., and Keithly, W. R.. “Market Impacts of U.S. Shrimp Imports.Workshop on Shrimp and Prawn Markets. International Institute of Fisheries Economics and Trade. Oregon State University, Corvalis, Oregon, 1985.
Sims, C. A.Money, Income, and Causality.Amer. Econ. Rev., 62(1972):540542.
Spreen, T. H., and Shonkwiler, J. S.. “Causal Relationships in the Fed Cattle Market.So. J. Agr. Econ., 13, 1(1981):145153.
Thompson, M. E., and Roberts, K. J.. “An Econometric Analysis of the U.S. Shrimp Market.Center for Wetland Resources, Louisiana State University, Baton Rouge, Louisiana, 1983.
U.S. Department of Agriculture. Agricultural Outlook. Various issues, 1975-1981.
U.S. Department of Commerce(a), Bureau of Economic Analysis. Business Statistics: 1982. 23rd Edition, 1983.
U.S Department of Commerce(b), National Oceanic and Atmospheric Administration, National Marine Fisheries Service. Fisheries of the United States. Various issues, 1980-1983.
U.S. Department of Commerce(c), National Oceanic and Atmospheric Administration, National Marine Fisheries Service. Shellfish Market Review-Annual Summary. Various issues, 1968-1982.
U.S. Department of Commerce(d), National Oceanic and Atmospheric Administration and National Marine Fisheries Service. Unpublished data files.
U.S. Department of Labor, Bureau of Labor Statistics. CPI Detailed Report. December 1972 through December 1981.
Van Dijk, G.Price Formation and Margin Behavior of Meat in the Netherlands and the Federal Republic of Germany.Department of Agricultural Economics, Agricultural University of Wageningen, the Netherlands, 1978.
Ward, R. W.Asymmetry in Retail, Wholesale, and Shipping Point Pricing for Fresh Vegetables.Amer. J. Agr. Econ., 64(1982):205212.
Wolframm, R.Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches—Some Critical Notes.Amer. J. Agr. Econ., 53(1971):356359.
Young, T.Modelling Asymmetric Consumer Responses with an Example.J. Agr. Econ., 31, 2 (1980):175186.

Keywords

Price Determination in the U.S. Shrimp Market

  • Charles M. Adams (a1), Fred J. Prochaska (a1) and Thomas H. Spreen (a1)

Metrics

Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed