Buyer Concentration at Feeder Cattle Auctions
Review of Agricultural Economics
The influence of buyer concentration in two large feeder cattle auctions on feeder cattle prices at the auctions was investigated. Buyer concentration increased slightly for steers and heifers at one of the auctions between 1987 and 1989 and the increased concentration was estimated to have depressed prices an average of $0.05/cwt. Overall, prices at the other auction were depressed by an average of $0.44/cwt. between 1988 and 1989 due to increasing concentration at the auction.
Bailey, DeeVon, B. Wade Brorsen, and Chris Fawson. Buyer Concentration at Feeder Cattle Auctions. Review of Agricultural Economics 15(1993):103-19.