The development and application of a quarterly econometric model of the Australian prime lamb market

Describes the development of an econometric model of the Australian prime lamb market which attempts to overcome deficiencies in the quantitative analysis of the industry. Specifying the lamb industry as a separate entity, rather than as a component of the larger sheep industry has enabled the more precise representation of the operations of the lamb market within a simultaneous system. Therefore the model can be more confidently applied to economic analyses within the lamb market. Particular emphasis is given to the modelling of the market's production capacity and to the process of farm price formation.