Abstract

One of the difficulties faced by agricultural economic price analysts is the great variety of subclasses identifiable within commodity categories. Beef cattle price analysts face a particularly difficult problem in this regard. In addition to spatial, temporal, grade, and variety distinctions inherent in most agricultural commodities, cattle markets often discriminate sharply on the basis of weight, age, and sex. Most feeder cattle demand, supply, or price studies focus on a representative steer or heifer defined by an explicit set of characteristics that remains invariant across the data set (Maki). Readers are left to draw inferences for other sets of characteristics. Considerable attention has been

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