Short‐Term Adjustments in Yellow Sheet Carcass Prices for Red Meats
用帕斯卡密度函数估计牛肉、猪肉和羊肉的月度黄单胴体价格，发现系统性经济因素解释了约85%的价格变动，但谈判交易减少可能影响市场定价效率。
Abstract The Pascal density function was used to estimate monthly Yellow Sheet carcass prices for beef, pork, and lamb. Yellow Sheet prices have been criticized for lack of economic responsiveness due to small sampling and thin negotiated markets. However, the statistical results show that systematic economic factors explain about 85% of the variation in Yellow Sheet prices, i.e., direct and competitive production, cold storage, disposable income, and seasonality. Though the role of the stochastic error process was relatively small, a continual decline in negotiated transactions could increase its role, raising questions about wholesale market pricing efficiency.