Application of econometric procedures to the demands for agricultural products

The objective of this study is to get for several food products the kind of demand information that is relevant when a price support administrator selects a support price. The specific problems dealt with are those of estimating the retail demand conditions for (1) pork, beef and poultry products and (2) eggs. In connection with each problem, demand equations have been set up. In each case demand relations have been estimated by the least squares method, which treats demand equations in isolation from supply equations. Demand equations have also been estimated by simultaneous equations methods, which deal with a demand equation as part of a system of equations including a supply equation and perhaps others