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This study investigates empirically the price situation of the European beef market. Specifically, it utilizes weekly wholesale beef average carcass price data for fifteen European markets and applies the method of hierarchical clustering. In the frame of this application, some of the most fundamental concerns of cluster analysis are presented and discussed thoroughly, while the results of the empirical analysis suggest: First, the DTW distance measure and the choice of the ward linkage methoddoi:10.26268/heal.uoi.9784 fatcat:kvrwxb5vgve4tocaqj6b2o6asq