Comparing the Box-Jenkins and Econometric Techniques for Forecasting Beef Prices

Most published studies which consider the forecasting of agricultural prices have utilised the econometric technique. In many non-agricultural forecasting situations, the Box-Jenkins technique has been found to be of equal accuracy. This paper compares the forecasting accuracy of the Box-Jenkins and econometric techniques for forecasting manufacturing-grade beef prices in the United States of America, and suggests that the Box-Jenkins technique may be the more accurate.