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Price Determination in the U.S. Shrimp Market

Published online by Cambridge University Press:  05 September 2016

Charles M. Adams ,
Fred J. Prochaska  and
Thomas H. Spreen
Charles M. Adams
Affiliation:
Food and Resource Economics Department, University of Florida
Fred J. Prochaska
Affiliation:
Food and Resource Economics Department, University of Florida
Thomas H. Spreen
Affiliation:
Food and Resource Economics Department, University of Florida
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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.

Keywords

shrimppricescausality
Type
Submitted Articles
Information
Journal of Agricultural and Applied Economics , Volume 19 , Issue 2 , December 1987 , pp. 103 - 111
Copyright
Copyright © Southern Agricultural Economics Association 1987

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