Hog price transmission in Global markets: China EU and U.S
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This paper analyzes the twelve years monthly hog price data from the Chinese ,U.S, and EU markets. The study’s methodology includes cointegration tests and VECM, followed by tests for Granger Causality. The analysis provides a broad view of international hog markets price linkage and price transmission mechanism. There are several results: first, rather weak price linkages are found among the the three markets; second, China is the least price responsive and the EU is the most price responsive market; third, the hypothesis of Granger causality is confirmed between the Chinese and the EU market prices but not in both directions; fourth, U.S. hog prices responds noticeably to a shock in the EU price but mildly to the shocks in the Chinese hog price.