A Qualitative Characteristics Model of County Youth Fair Animal Prices

Abstract

Regression techniques were used to study the responsiveness of final bid prices in a Texas county fair auction for five livestock types: steer, barrow, lamb, chicken, and rabbit. A qualitative characteristics model framework is used including buyer characteristics, exhibitor (seller) attributes, and the placement of the animal. Prices received were largely uninfluenced by buyer or seller characteristics; however, non-Caucasian exhibitors received a lower price for barrows.