Hedonic price analysis of sheep and goat market in Lagos State, Nigeria

Abstract

Nigeria has substantial livestock resources but problems of infrastructure limit the trade in and the profit from the trade. This study, using the hedonic price methodology, examined the factors that influence the prices of livestock in the major livestock market in Lagos State, Nigeria's most populous urban centre. The results showed that while the marketers identified the characteristics that consumers were felt to be interested in, only few of these were significant in the analysis and the most consistent of these characteristics were age and body weight. The study concluded that the targeting of animals with these characteristics for sale would increase the profits made by the traders

Keywords: Hedonic, Analysis of Covariance, Livestock, Lagos, Nigeria.

African Journal of Livestock Extension Vol. 4 2005: pp. 15-19