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Price transmission asymmetry for peanuts used in peanut butter was examined using monthly data from 1984 to 1992. Results show an incomplete price passthrough from the wholesale to the retail level. Furthermore, the results indicate that the initial price response of peanut butter price to a reduction in peanut prices occurs later than the response to an increase in peanut prices. The price transmission is asymmetric in the short-run but symmetric in the long-run. © 1995 by John Wiley & Sons, Inc.

Survey data of 2,538 dairy farmers located in 12 southern states were used to analyze the factors influencing farmers' degree of satisfaction with the overall performance of milk marketing cooperatives. Results from an ordered probit model indicate that southern dairy farmers perceive cooperatives' ability to hold down operating and marketing costs, to provide higher prices and competent field services, and assure a market for their milk as important attributes of efficient viable cooperatives. Furthermore, the study found that there are significant differences in the degree of satisfaction with the cooperatives among the dairy farmers located in the 12 southern states. © 1993 John Wiley & Sons, Inc.

The analysis identified factors affecting market participants' attitudes toward selected market alternatives for US shelled peanuts using a mirrorimage survey design and multivariate probit. Agreement or disagreement among shellers, among processors, and between shellers and processors is ascertained via matching patterns of mirror-image profiles. Results indicate that the computerized cash market might hold promise as a starting point in the implementation of a centralized market for shelled peanuts with or without the government program in effect.

Attitudes of producers and buyers of farmers' stock peanuts toward different market alternatives were analyzed assuming the absence of the government support program. A multivariate probit model was used to ascertain profiles of producers favoring the private treaty market and the proposed organized markets. Results indicate that computerization of the private treaty market might serve as a basis for implementation of an organized market for farmers' stock peanuts.