How Retail Beef and Bread Prices Respond to Changes in Ingredient and Input Costs

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英文名称：

How Retail Beef and Bread Prices Respond to Changes in Ingredient and Input Costs

作者：

Edward Roeger; Ephraim Leibtag

工作单位：

USDA's Economic Research Service

来源地址：

https://www.ers.usda.gov/publications/pub-details/?pubid=44815

关键词：

Pass through;  wholesale;  retail;  farm prices;  beef;  bread;  supply chain;  price transmission;  price response; 

年份：

2011

出版地：

Washington, DC, USA

总页数：

34 pp

语种：

English

摘要：

The extent to which cost changes pass through a vertically organized production process depends on the value added by each producer in the chain as well as a number of other organizational and marketing factors at each stage of production. Using 36 years of monthly Bureau of Labor Statistics price indices data (1972-2008), we model pass-through behavior for beef and bread, two retail food items with different levels of processing. Both the farm-to-wholesale and wholesale-to-retail price responses are modeled to allow for the presence of structural breaks in the underlying long-term relationships between price series. Broad differences in price behavior are found not only between food categories (retail beef prices respond more to farm-price changes than do retail bread prices) but also across stages in the supply chain. While farm-to-wholesale relationships generally appear to be symmetric, retail prices have a more complicated response behavior. For both bread and beef, the passthrough from wholesale to retail is weaker than that from farm to wholesale.