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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Meat price relationships in South Africa
Authors:Van Zyl, J.
Van Heerden, A.F.
Groenewald, J.A.
Vivier, F.L.
Periodical:South African Journal of Economics
Geographic term:South Africa
External link:https://doi.org/10.1111/j.1813-6982.1992.tb01026.x
Abstract:Various studies of the demand for meat have been conducted in South Africa. The calculation of price and cross-elasticities of demand has received particular attention. Price interactions and price leadership have, however, received less attention. This study presents a model within which price interactions and market price leadership can be analysed. For purposes of market planning and forecasting, knowledge concerning price leadership and time lags may well be regarded as a prerequisite. An effort is made to determine which product is the price leader and what interactions and relationships may be found in the meat market in respect of product prices. The time it takes for various prices to react to changes in the prices of other types of meat is also calculated. The product prices that are analysed are those for beef, mutton, pork, poultry, fish and eggs. Monthly information from March 1980 to June 1988 is used. The short-term interaction between the prices is determined by analysing changes in the prices. The results indicate that price leadership rests with beef. All other meat prices take more than a month to adjust to changes in market conditions and it can thus be deduced that the meat market functions in a weak form of effectivity. Bibliogr.