Effects of Japanese Import Demand on U.S. Livestock Prices: Comment

A recent study of Miljkovic, Marsh, and Brester estimates that reductions in the Japanese tariff-rate quota between 1993 and 2001 increased U.S. beef prices by $1.03 per cwt and yen depreciation between 1995 and 1998 reduced U.S. hog prices by $0.99 per cwt. Relaxing the assumption that U.S. beef and hog supplies are fixed cuts the total elasticities underlying these estimates by 50% or more. The upshot is that shocks in the Japanese market have little effect on U.S. beef and pork prices. Hence, producers may be better off focusing on domestic issues such as dietary concerns over red meat consumption.


Issue Date:
2004-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/43432
Published in:
Journal of Agricultural and Applied Economics, Volume 36, Number 01
Page range:
251-255
Total Pages:
5
JEL Codes:
Q17; F14; C32




 Record created 2017-04-01, last modified 2017-04-04

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