A Latent Class Analysis of Stocker Cattle Producer Purchasing Preferences
By: Yin, Mengyu; Raper, Kellie Curry; Peel, Derrell S.; Hagerman, Amy D.
Yin, Mengyu; Raper, Kellie Curry; Peel, Derrell S.; Hagerman, Amy D., A Latent Class Analysis of Stocker Cattle Producer Purchasing Preferences, Journal of Agricultural and Resource Economics, Volume 49, Issue 1, January 2024, Pages 185-202
The stocker industry plays numerous critical roles in the cattle industry and is the most flexibleÑyet complicatedÑsegment of the beef supply chain. Stocker producersÕ calf-purchasing decisions have historically been diverse and difficult to characterize. This study uses data from a unique survey to analyze factors affecting stocker producersÕ calf-purchasing decisions. Latent class analysis is used to classify stocker producers into subgroups based on cattle-purchasing preferences. Results indicate that stocker producers can be divided into four distinct latent classes according to calf-purchasing preferences.