2018, Volume 26, Paper 5
ISSN: 1883-5675

Updating and Recalibrating Equilibrium Displacement Models of the Australian Livestock Industries: Pig Meat

Yue Zhang, Stuart Mounter and Garry Griffith – Centre for Agribusiness, UNE Business School, University of New England, Armidale.

This research was funded by the Rural R&D for Profit Programme of the Department of Agriculture and Water Resources, Australian Pork Limited, and the Australian Meat Processors Corporation.

This paper should be read in conjunction with the companion paper on the update of the beef equilibrium displacement model (Zhang et al., 2018).

Abstract

In this paper, we report on a recent update of an equilibrium displacement model of the Australian pig meat industry. New price and quantity data for the period 2012-2016 are described and compared to values used in two previous versions of the model. Elasticity parameters are kept the same. Then two hypothetical simulations are run, one for a farm productivity improvement and one for a consumer demand expansion, and the results of these simulations are reported and compared with identical simulations previously reported for the earlier versions of the model.

Key words: pig meat, EDM, update, simulation

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