ON THE ESTIMATION OF THE SUPPLY FUNCTION OF THE HUNGARIAN PORK MARKET
2005, 6 (4) p. 521-530
Abstract
An uncertain situation can be observed in the Hungarian pork market in the last four years. The main reasons for that are the increasing quantities of pork import, the decrease of pig meat consumption, and the decreasing competitiveness of the Hungarian farms. Instead of well-defi ned control of the market ad hoc measurements have been taking place. The farmers found themselves in an uncertain position and they were unable to make appropriate decisions. The market price changed signifi cantly several times within this period making the mathematical analysis of the supply function possible. In this paper the pork supply is estimated under various scenarios. The supply function is approximated by several regression equations. All of these give the same result in extreme market situations.
Keywords
hungarian pig production, regression equations, supply function
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