Using Farm-Level Data to Improve Marketing and Planning: An Illustration with Live Hogs
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Actual live hog sales data from
the Swine Center at Southern
Illinois University at Carbondale
are used to examine marketing
practices and develop a
forecasting and budgeting tool.
The data show that carcassbased
hog sales receive a price
premium of $4.35 per live
hundredweight. Likewise, hogs
marketed at the optimal live
weight, 244 pounds, receive a
$0.26 per hundredweight
premium. The data are also
used to develop a futures-based
hedging and forecasting model.
Price forecasts are used to
generate revenue estimates to
assist with business planning.
The results demonstrate a
number of ways producers and
agribusinesses can use sales
data to improve their marketing
and business planning.