Changes in Structural Characteristics and Estimates of Supply Response Elasticities in U.S. Hog Production

Extract: This study has been made to analyze changes in supply elasticities in pork production which may have occurred over the last three decades. There is basis to suppose that they may have declined and a major purpose of this study is to test this hypothesis. A decline in supply elasticity should also reduce inter-year fluctuations in pork production and help stabilize pork output and prices.