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Implications of Feeder Pig Price Variability in Virginia Tele-Auction Markets

Published online by Cambridge University Press:  28 April 2015

Kenneth Baum ,
Steven Buccola  and
Peter Fisher
Kenneth Baum
Affiliation:
Farm Sector Economics Branch, NED/ERS/USDA
Steven Buccola
Affiliation:
Department of Agricultural and Resource Economics, Oregon State University
Peter Fisher
Affiliation:
Department of Agricultural Economics, Virginia Polytechnic Institute and State University
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Extract

During the last two decades, the feeder pig industry in Virginia has undergone significant growth in the number of pigs sold and in the value of total sales, along with improvement in marketing procedures. From 1959 to 1978, the number of feeder pigs sold in state-sponsored auctions increased from 2,195 to more than 150,000 per year (Virginia Department of Agriculture). Tele-Auction sales, conducted by the Virginia Feeder Kg Association, use a conference telephone system that allows distant buyers to bid for pigs described by lot size, grade, weight, and tail docking. Pigs from various producers are co-mingled into lots that are homogeneous with respect to these characteristics. The Tele-Auction system permits out-of-state buyers to participate easily in sales, thus increasing the demand for Virginia's feeder pigs. In 1979, the Association sponsored 128 sales at 8 locations.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 14 , Issue 1 , July 1982 , pp. 97 - 103
Copyright
Copyright © Southern Agricultural Economics Association 1982

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