Price Volatility and Price Leadership in the EU Beef and Pork Meat Market

Author(s):  
Isabelle Piot-Lepetit
2020 ◽  
Vol 12 (15) ◽  
pp. 5920
Author(s):  
Vincenzo D’Apice ◽  
Giovanni Ferri ◽  
Francesca Lipari

Sustainable disclosure has become common for companies to publicly signal their responsible behavior. Our research idea is twofold. First—irrespective of its content—better quality sustainable disclosure should identify more sustainability compliant companies. Second, we propose that those companies should have a more stable—and thus more sustainable—performance. Focusing on the top-capitalized companies of the EU-28 stock exchanges, we assess how GRI sustainable-reporting quality associates with stock-price volatility and distance-to-default. Our results, which resist various robustness checks, confirm that better quality sustainable disclosure couples with more sustainable performance. Thus, pro-disclosure policies could enhance long-term value creation.


2009 ◽  
Vol 4 (3-4) ◽  
pp. 16-20
Author(s):  
Richárd Márkus ◽  
Imre Tell ◽  
Tamás Tóth ◽  
Szabolcs Troján

Pig- or pork meat is still keeping its leading role in meat production- and consumption -ahead of poultry - its main rival - which has made a huge development during the past decades. The pig sector has to face huge difficulties almost continuously, anyway periodi-cally - in the EU and in Hungary, as well. The EU has included pork in a category called „light market regulation product paths", hence the development of production/consumption is exposed mostly to the extremities of markets. Because of this, a strong fluctuation in buy-up prices has also been observable up to now, according to the well-known cyclicism in the pig sector, as well as a consequence of the various pig illnesses, changes in con-sumer habits, and so on. Due to the lack of market regulations, an absurd fenomena oc-cures very often, notably: parallel to the decreasing slaughter hog procurement prices -that of forage increase. Consequently, farms have to try to minimise (or being more pre-cise) to optimise costs for the sake of their sustainability, and keeping up competitiveness. Concerning the cost-structure of animal farming, no doubt that costs of forages are deter-minant, especially in case of pig farming it can reach as much as 60-70 percent of the total. Consequently, beside applying „novel" forages, increasing effectiveness of the so-called „traditional ones" is also badly needed.


2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Jian Liu ◽  
Ziting Zhang ◽  
Lizhao Yan ◽  
Fenghua Wen

AbstractThis study investigates the impact of economic policy uncertainty (EPU) on the volatility of European Union (EU) carbon futures prices and whether it has predictive power for the volatility of carbon futures prices. The GARCH-MIDAS model is applied for evaluating the impact of different EPU indexes on the price volatility of European Union Allowance (EUA) futures. We then compare the predictive power for the volatility of the two GARCH-MIDAS models based on different EPU indexes and six GARCH-type models. Our empirical results show that the GARCH-MIDAS models, which exhibit superior out-of-sample predictive ability, outperform GARCH-type models. The results also indicate that EPU has noticeable effect on the volatility of EUA futures. Specifically, the forecast accuracy of the EU EPU index is significantly higher than that of the global EPU index. Robustness checks further confirm that the EPU index (especially the EPU index of the EU) has strong predictive power for EUA futures prices. Additionally, using the volatility forecasting methods that GARCH-MIDAS models combine with the EPU index, investors can construct their portfolios to realize economic returns.


Significance US President Donald Trump last month targeted Canada’s supply management system for dairy, poultry and eggs as an example of unfair restrictions on agricultural exports to that country. Meanwhile, Canada, Mexico, China and the EU, the largest US farm export markets, are imposing retaliatory measures on key agricultural and food imports from the United States in response to US tariffs on steel, aluminium and Chinese manufactured goods. Impacts The tariffs will disrupt agricultural markets, trade and supply chains globally, and commodity price volatility will increase. Food security and price stability worries will rise and may spark a vicious circle of more restrictions and interventions by governments. Chinese retaliation is targeting US agricultural and processed food exports, affecting activity in ‘swing’ states ahead of the elections.


2017 ◽  
Vol 17(32) (3) ◽  
pp. 268-278
Author(s):  
Stanisław Stańko ◽  
Aneta Mikuła

The study presents changes in the broiler meat market in the world in 2000-2016. Changes in production, consumption, foreign trade in general as well as in the largest producers and consumers, exporters and importers and in Poland were presented. In the world's major broiler meat producers, production growth was faster than consumption growth, which increased their export capacity. Meat supply in the world markets was concentrated while demand was more fragmented. In 2016 the share of the three largest exporters (USA, Brazil and EU) in world exports was 76.5% and the share of the top three importers was 29.5%. Prices of broiler meat were characterized by an upward trend. The annual growth rate of world prices was 4.2%, in the EU - 1.7%, and in Poland - 1.1%. As a result, the differences between the higher prices in the EU and the world have decreased. In Poland there was an upward trend in production, consumption and exports. Foreign markets are the main direction for the development of growing poultry meat production in Poland. These changes were the result of price competitiveness of Polish broiler meat, both on the EU and other markets. In 2016, poultry prices in the EU were 49.8% higher than in Poland. The world prices were also higher by 18.8%. By 2026 further growth in poultry production in Poland may be possible resulting mainly from foreign demand.


Studia BAS ◽  
2021 ◽  
Vol 3 (67) ◽  
pp. 87-116
Author(s):  
Małgorzata Mikita

The aim of the article is to present activities undertaken at the EU level to ensure financial stability, and to assess the degree of stability of the EU financial system on the basis of selected indicators. The first part of the article introduces the concept of financial system stability and describes its importance in the modern economy and the methods of estimating the stability of the financial system. The second part of the article is devoted to the presentation of activities undertaken by the EU to increase the stability of the financial system, and the assessment of financial stability on the basis of two indicators: the Z-score indicator, used to assess the stability of the banking system, and the Stock Price Volatility index, showing the stability of the capital market.


2018 ◽  
Vol 18(33) (4) ◽  
pp. 102-111
Author(s):  
Ewa Bąk-Filipek

The article below discusses and compares changes in the beef market, occurring in the EU, to the global market. Global beef market is going through endless changes, although direction and rate of these changes vary depending on which region the analysis applies to. In recent years Polish beef market has been slowly becoming marginalized on the internal market, mainly because of the decreasing importance of beef consumption in the balance of meat consumption. The poultry market is becoming more and more important, both on the supply and demand sides. The study also draws attention to the fact that agricultural markets, the meat market in particular, are susceptible to the cyclical fluctuations on international markets. Because of that the EU policy, as well as the policy of a given country, play a big part to the individual agricultural markets.


2019 ◽  
Vol 18 (1) ◽  
pp. 71-80
Author(s):  
Tomasz Rokicki

The aim of the work was to show the situation and changes on the lamb meat market in the European Union countries. All European Union Member States, which belonged to the EU as of 31 December 2017 were selected for research. The research concerned the years from 2007 till 2017. The period of research concerned the years 2007–2017. Decrease in the sheep population in the EU has been found, the largest in the countries that keep the largest number of animals, such as Spain, the United Kingdom, France and Italy. The decline in the population of sheep influenced the decrease in the production of lamb meat. Another problem was the decline in lamb meat consumption. Nevertheless, the share of self-supply on the market was lower than 90%. The changes that took place on the lamb meat market did not affect the concentration of this production. It was still very high. In 2007–2017, the prices of lamb meat increased, while the decreases concerned a small number of countries. There was also a leveling up of prices. Across the EU, prices have risen by 16% on average. The production volume of lamb meat in EU countries was on average related to the parameters determining the potential of the economy and not related to per capita parameters. Production as well as lamb meat consumption, depend on many market factors and also on social and hard to measure factors.


2017 ◽  
Vol 32 (1) ◽  
pp. 3-25
Author(s):  
Edgardo Ayala ◽  
◽  
Joana Chapa ◽  
Keyword(s):  

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