Determinants of U.S. Beef Prices
Category
Business, Education and Humanities
Department
Finance and Economics
Student Status
Undergraduate
Research Advisor
Dr. Michael Davidsson
Document Type
Event
Location
Meadowlark
Start Date
10-4-2025 10:40 AM
End Date
10-4-2025 10:40 AM
Description
The beef industry is vital to the United States economy and directly affects what Americans choose to consume. However, this industry is constantly changing, and the factors influencing beef pricing are evolving. This study takes historical data and aims to analyze beef price determinants by examining variables like slaughter counts, byproduct prices, substitute prices, seasonality, income, inflation, and feed costs. Utilizing a time series regression model, the research evaluates the impact of these variables on the farm, wholesale, and retail levels. The preliminary findings indicate that the consumer price index (CPI) for food, slaughter volumes, feed prices, and byproduct values are very significant predictors of beef prices at all levels. Additionally, seasonal trends and the prices of substitute meats also affect price fluctuations. The study also highlights breakpoints in the data occurring over multiple spans in time.
Determinants of U.S. Beef Prices
Meadowlark
The beef industry is vital to the United States economy and directly affects what Americans choose to consume. However, this industry is constantly changing, and the factors influencing beef pricing are evolving. This study takes historical data and aims to analyze beef price determinants by examining variables like slaughter counts, byproduct prices, substitute prices, seasonality, income, inflation, and feed costs. Utilizing a time series regression model, the research evaluates the impact of these variables on the farm, wholesale, and retail levels. The preliminary findings indicate that the consumer price index (CPI) for food, slaughter volumes, feed prices, and byproduct values are very significant predictors of beef prices at all levels. Additionally, seasonal trends and the prices of substitute meats also affect price fluctuations. The study also highlights breakpoints in the data occurring over multiple spans in time.
