Mohammed OA Bushara and Nawal MM Babiker
The objective of this study was the investigation comprised the long run equilibrium and the short run dynamic interlinkages between sheep markets by using the monthly data of Omdurman, Medani, Elobied, Nyala and Sennar markets from January 1980 to December 1984 and from January 1990 to December 2000. The main findings were as following (i) The prices were first difference stationary, (ii) The test failed to reject the null hypothesis of no long run relationships between variables in the period 1980-1984 and (iii) there was only one cointegrating vector in the system in the period 1990-2000, and the short run integration appeared to be weak. The long run dynamics was re-examined by using impulse response tests and the results support the cointegration of these markets. It may be interpreted that any shock to the equilibrium relationships is mostly restored within four months lag period. The results also suggested relative leadership of Omdurman and Nyala markets in sheep pricing, which means the system is driven by large markets.
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