Relevant bibliographies by topics / Cattle futures market prices

Academic literature on the topic 'Cattle futures market prices'

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Published: 10 December 2022
Last updated: 29 January 2023

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Journal articles on the topic "Cattle futures market prices"

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Koontz, Stephen R., Michael A. Hudson, and Matthew W. Hughes. "Livestock Futures Markets And Rational Price Formation: Evidence For live Cattle And Live Hogs." Journal of Agricultural and Applied Economics 24, no. 1 (July 1992): 233–49. http://dx.doi.org/10.1017/s0081305200026157.

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AbstractThe efficiency of livestock futures markets continues to receive attention, particularly with regard to their forward pricing or forecasting ability. The purpose of this paper is to present a more general theory that encompasses the forward pricing concept. It is argued that futures contract prices for competitively produced nonstorable commodities, such as live cattle and live hogs, follow a rational formation process. Futures contract prices reflect expected market conditions when contracts are sufficiently close to the delivery month that the supply of the underlying commodity cannot be changed. However, prior to the period when future supplies are relatively fixed, futures contract prices should adjust to reflect the competitive equilibrium, where output price equals average costs of production. Presented evidence suggests that live cattle and live hog futures markets support the rational price formation hypothesis: prices for distant contracts reflect average costs of feeding. Implications for risk management strategies are considered.
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Huffaker, Ray, and Monika Hartmann. "Reconstructing dynamics of foodborne disease outbreaks in the US cattle market from monitoring data." PLOS ONE 16, no. 1 (January 27, 2021): e0245867. http://dx.doi.org/10.1371/journal.pone.0245867.

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Conventional empirical studies of foodborne-disease outbreaks (FDOs) in agricultural markets are linear-stochastic formulations hardwiring a world in which markets self-correct in response to external random shocks including FDOs. These formulations were unequipped to establish whether FDOs cause market reaction, or whether markets endogenously propagate outbreaks. We applied nonlinear time series analysis (NLTS) to reconstruct annual dynamics of FDOs in US cattle markets from CDC outbreak data, live cattle futures market prices, and USDA cattle inventories from 1967–2018, and used reconstructed dynamics to detect causality. Reconstructed deterministic nonlinear market dynamics are endogenously unstable—not self-correcting, and cattle inventories drive futures prices and FDOs attributed to beef in temporal patterns linked to a multi-decadal cattle cycle undetected in daily/weekly price movements investigated previously. Benchmarking real-world dynamics with NLTS offers more informative and credible empirical modeling at the convergence of natural and economic sciences.
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Turner, Steven C., Nancy S. Dykes, and John McKissick. "Feeder Cattle Price Differentials in Georgia Teleauctions." Journal of Agricultural and Applied Economics 23, no. 2 (December 1991): 75–84. http://dx.doi.org/10.1017/s0081305200018197.

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AbstractThree Georgia feeder cattle teleauction markets were analyzed from 1977 to 1988 to estimate the impacts of cattle characteristics and market conditions on prices. Cattle characteristic price impacts were similar to those in previous studies. The impact of feeder cattle futures price on teleauction price was positive but varied across markets. Optimal lot size ranged from 143 to 276 head. In one market, 14 lots were necessary to generate positive price impacts. Additional buyers were estimated to have a $.30/cwt per buyer impact on price.
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Lusk, Jayson L., and Ted C. Schroeder. "Effects of Meat Recalls on Futures Market Prices." Agricultural and Resource Economics Review 31, no. 1 (April 2002): 47–58. http://dx.doi.org/10.1017/s1068280500003476.

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The number of meat recalls has increased markedly in recent years. This research examines the impact of beef and pork recall announcements on nearby daily live cattle and lean hog futures market prices, respectively. Results indicate medium-sized beef recalls that are of serious health concerns have a marginally negative impact on short-term live cattle futures prices. However, results are not robust across recall size and severity. This research suggests that if there is any systematic change in cattle and hog demand due to meat recalls, it likely occurs over an extended period of time and only in certain cases does it noticeably affect daily futures prices.
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Bulama, YaAshe M., Yakubu Bila, and Catherine O. Ojo. "TEST OF PRICE VOLATILITY: A CASE OF THE NIGERIAN CATTLE MARKET." American Journal of Economics 6, no. 1 (January 4, 2022): 1–12. http://dx.doi.org/10.47672/aje.890.

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Purpose: The research investigated variation of cattle prices in Nigeria. Specifically, the research: determined the presence of volatility in cattle prices, determined the degree of volatility of the cattle prices and estimated the level of persistence of the volatility of the cattle prices. Methodology: Multi-stage and simple random (balotting) sampling techniques were used to select two states each from five out of the six geo-political zones in Nigeria, except South-East zone which was not represented due to unavailability of data. A total of ten states were selected. Data were analysed using the Generalised Auto Regressive Conditional Heteroscedasticity (GARCH)). Findings: Results of the GARCH model revealed that prices were highly volatile in all the selected states except Yobe, since all coefficients were close to one and ranged from 0.71 to 0.88. The sum of the α + β coefficients were all close to or greater than one and ranged from 0.98 to 1.30, which indicated volatility was persistent. It was discovered that the prices in Nigerian cattle markets were highly volatile and persistent in volatility. Recommendations: There is need to improve on the market information system and transportation and infrastructural facilities in order to ensure a good and efficient market and pricing system in the country. Hedging via Futures through contract agreement and/or Futures trading could be solutions to price volatility.
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Bulama, YaAshe M., Yakubu Bila, and Catherine O. Ojo. "TEST OF PRICE VOLATILITY: A CASE OF THE NIGERIAN CATTLE MARKET." American Journal of Economics 6, no. 1 (January 4, 2022): 1–12. http://dx.doi.org/10.47672/aje.890.

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Purpose: The research investigated variation of cattle prices in Nigeria. Specifically, the research: determined the presence of volatility in cattle prices, determined the degree of volatility of the cattle prices and estimated the level of persistence of the volatility of the cattle prices. Methodology: Multi-stage and simple random (balotting) sampling techniques were used to select two states each from five out of the six geo-political zones in Nigeria, except South-East zone which was not represented due to unavailability of data. A total of ten states were selected. Data were analysed using the Generalised Auto Regressive Conditional Heteroscedasticity (GARCH)). Findings: Results of the GARCH model revealed that prices were highly volatile in all the selected states except Yobe, since all coefficients were close to one and ranged from 0.71 to 0.88. The sum of the α + β coefficients were all close to or greater than one and ranged from 0.98 to 1.30, which indicated volatility was persistent. It was discovered that the prices in Nigerian cattle markets were highly volatile and persistent in volatility. Recommendations: There is need to improve on the market information system and transportation and infrastructural facilities in order to ensure a good and efficient market and pricing system in the country. Hedging via Futures through contract agreement and/or Futures trading could be solutions to price volatility.
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Lima, Alexandre Vasconcelos, Rogério Boueri Miranda, and Mathias Schneid Tessmann. "Evaluation of the Future Price of Brazilian Commodities as a Predictor of the Price of the Spot Market." International Journal of Economics and Finance 14, no. 4 (March 25, 2022): 51. http://dx.doi.org/10.5539/ijef.v14n4p51.

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The present work seeks to bring empirical evidence on the efficiency of futures prices as predictors of spot market prices. For this, future and spot prices of live cattle, coffee, corn, soybeans, ethanol, gold and dollars traded in Brazil are considered. To compare the probability of occurrence with the event that actually happened, the score proposed by Brier in 1950 is used. It was observed that the spot and future price curves have the same trajectory and, considering the same date, have similar values. Despite this behavior, when calculating the scores, we found that the lowest was found for live cattle, 0.47, the highest for the dollar, with a value close to 1, and the other assets varied between 0.6 and 0.8. Scores of 1 denote worse predictive powers, it was noted that future prices are not good predictors for the assets considered. These results contribute to filling the gap in the financial literature that seeks to assess the efficiency of futures markets by bringing empirical evidence to Brazilian commodities and using the Brier Score. The findings are also useful for financial market agents who use these assets in their portfolios, producers and principals in the supply chain and policy makers who make decisions involving these commodities.
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Panagiotou, Dimitrios, and Alkistis Tseriki. "Assessing the relationship between closing prices and trading volume in the US livestock futures markets." Studies in Economics and Finance 37, no. 3 (April 22, 2020): 413–28. http://dx.doi.org/10.1108/sef-09-2019-0352.

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Purpose The purpose of this paper is to examine the relationship between closing prices and trading volume in the livestock futures markets of lean hogs, live cattle and feeder cattle. Design/methodology/approach The parametric quantile regressions methodology is used. Daily data between January 1, 2010 and July 31, 2019 were used. Findings Findings suggest that the relationship between the two variables is non-linear. Price-volume relationship is positive (negative) under positive (negative) returns. Furthermore, co-movement is weaker at the lower quantiles and stronger at the higher quantiles. Results are in line with the empirical findings of the price-volume relationship in six agricultural futures markets from the study by Fousekis and Tzaferi (2019). Originality/value This is the first study that uses the parametric quantile regressions method in the livestock futures market, to examine the returns-volume dependence.
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Foster, Kenneth A., and Arthur M. Havenner. "COINTEGRATION AND SETTLEMENT OF COMMODITY FUTURES CONTRACTS." Macroeconomic Dynamics 3, no. 2 (June 1999): 226–42. http://dx.doi.org/10.1017/s1365100599011050.

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Weekly live cattle prices in various markets would be expected to share common trends, i.e., they cannot be driven by separate nonstationarities because at some point the prices will diverge sufficiently for it to be economic to cross-ship the cattle, or at least the beef. This paper extends previous bivariate work to a multivariate analysis that is capable of modeling the multiple market linkages in prices for many geographical regions. The empirical estimation represents the application of an innovation on Aoki's Linear Systems State Space model that allows determination of long- and short-run dynamics common to multiple series. The common dynamics permit characterization of the multiple markets with a limited number of states (sufficient statistics for the past), resulting in dynamic arbitrage relations between the series. A nonparametric test is used to evaluate the value of expected arbitrage forecasts implied by the structure of the model. The arbitrage relationship also is employed to generate efficient discounts/premiums for either physical delivery or cash settlement of futures contracts. The proposed settlement mechanism accounts for spatial arbitrage opportunities and therefore better represents the true geographical discounts faced by traders in individual markets.
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Oellermann, Charles M., and Paul L. Farris. "Futures or Cash: Which Market Leads Live Beef Cattle Prices?" Journal of Futures Markets 5, no. 4 (1985): 529–38. http://dx.doi.org/10.1002/fut.3990050404.

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Dissertations / Theses on the topic "Cattle futures market prices"

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Koontz, Stephen R. "Interaction between the cattle feeding sector and the live cattle futures market: implications to the stability of short-run cash slaughter cattle prices." Thesis, Virginia Polytechnic Institute and State University, 1985. http://hdl.handle.net/10919/50036.

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The short-run interaction between the cattle feeding sector, as represented by Cattle Fax member feedlots, and the live cattle futures market is examined. The purpose of this research is to explore the simultaneity between placement decisions made in the cattle feeding sector and the price discovery process for distant contracts within the live cattle futures market. The efficiency of these processes will have implications to variability in supplies and thus, cash market prices for fed cattle. Input demand functions for feeder cattle were estimated as a function of numerous economic and technical factors. These modeling efforts reveal that cattle feeders consistently use distant futures prices in the formulation of expected prices when making placement decisions. Lead/lag analyses were conducted between the Cattle Fax placement series and the live cattle futures price series. Results from Granger type models reveal the live cattle futures market efficiently gathers and incorporates information on future supply conditions in the price discovery process for distant contracts. The recursive system created by these two models was examined and was found to be stable. The emergence of new information, pertinent to the feeding sector and the live cattle futures market, will cause orderly shifts to new equilibrium levels of placements of cattle on feed and distant live cattle futures prices. This research supports the conclusion that, because of the nature of the interaction between the live cattle futures market and the cattle feeding sector, the existence of the live cattle futures market aids in stabilizing the flow of cattle placed on feed. The results of stable flows of cattle placed on feed should be relatively stable flows of fed cattle marketings, and relatively more stable cash slaughter cattle prices.
Master of Science
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Rowsell, John. "Composition of traders in live cattle futures contracts: behavior and implications to price discovery." Diss., Virginia Tech, 1991. http://hdl.handle.net/10919/39772.

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The concepts of risk transfer and price discovery are well developed roles for futures markets. The interaction between traders in futures markets in the transferring and acceptance of price risk contributes to the discovery of price. Interaction of traders in the risk transfer and price discovery processes is examined in this dissertation. Data employed were for live cattle futures at the Chicago Mercantile Exchange developed from the confidential daily records of reporting trader positions maintained by the Commodity Futures Trading Commission. The analysis was for the period February 1983 through September 1987. The nearby futures contract price, volume, and open interest series supplement the daily trader position data base.
Ph. D.
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Yun, Won-Cheol. "Tax treatment of trade in cattle futures : possible implications to market efficiency and price stability /." Thesis, This resource online, 1992. http://scholar.lib.vt.edu/theses/available/etd-11242009-020149/.

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Murphy, Robert David. "The influence of specific trader groups on price discovery in the live cattle futures market." Diss., This resource online, 1995. http://scholar.lib.vt.edu/theses/available/etd-06062008-150905/.

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Silveira, Rodrigo Lanna Franco da. "Análise das operações de cross hedge do bezerro e do hedge do boi gordo no mercado futuro da BM&F." Universidade de São Paulo, 2002. http://www.teses.usp.br/teses/disponiveis/11/11132/tde-09012003-082031/.

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O presente estudo visa analisar as operações de cross hedge dos preços do bezerro na Bolsa de Mercadorias & Futuros (BM&F). Para tanto, foram calculados o risco de base destas operações nas semanas de vencimento do contrato futuro de boi gordo, as razões de hedge ótimas e as respectivas efetividades, entre setembro de 1995 e fevereiro de 2001, nas principais praças de comercialização de gado bovino do País - Araçatuba (SP), Bauru/Marília (SP), São José do Rio Preto (SP), Presidente Prudente (SP), Três Lagoas (MG), Triângulo Mineiro (MG), Campo Grande (MS) e Noroeste do Paraná. Como forma de comparação, as mesmas análises foram realizadas para o hedge do boi gordo. O valor médio da base e o risco de base do hedge do boi gordo e do cross hedge do bezerro foram calculados nas semanas de vencimento dos 58 contratos futuros de boi gordo e análises econométricas foram realizadas. Nesta primeira etapa, foi possível observar os seguintes resultados: i) valor médio e variância da base do bezerro foram superiores à do boi gordo em todas as regiões; ii) o desvio padrão da base do boi gordo foi 80,67% inferior ao desvio padrão do bezerro; iii) o risco de base do boi gordo foi estatisticamente inferior nas regiões que compõem o Indicador de Preço Disponível do Boi Gordo – IBG, calculado pelo CEPEA/FEALQ; iv) o risco de base do bezerro não apresentou diferenças estatisticamente significativas entre as regiões. Em uma segunda etapa, o estudo buscou analisar as razões ótimas e a efetividade do hedge do boi gordo e do cross hedge do bezerro, conforme a metodologia de Myers & Thompson (1989). Tanto no cross hedge, como também no own hedge, as razões se mostraram elevadas - no primeiro caso esteve entre 37% e 49%, já no segundo variou entre 58% a 63%. Com relação à efetividade, constatou-se que no caso do own hedge, o risco de preço pode ser reduzido em cerca de 50% com a tomada de posição em contratos futuros de boi gordo na proporção de hedge ótima. No entanto, para o cross hedge, a efetividade foi bastante baixa para todas as regiões, de aproximadamente 1,5%. Se por um lado, a proteção contra os riscos de preço do boi gordo ocorre de forma eficiente, por outro lado a proteção contra movimentos adversos nos preços do bezerro possui baixa efetividade. Conclui-se, portanto, que os pecuaristas, os quais utilizam o preço do bezerro e a relação de troca entre boi gordo e bezerro para a decisão de venda do gado, não possuem um instrumento eficiente, nos mercados futuros, de proteção dos preços de sua atividade.
The aim of the present study is to analyze the cross hedge operation for calves in the BM&F future markets. The basis risk of these operations during the contract maturity weeks were calculated, as well as the optimal hedge ratios and the respective effectiveness. The period considered was September, 1995 to February, 2001, and the regions were chosen according to their importance in commercialization of bovine cattle: Araçatuba (SP), Bauru/Marília (SP), São José do Rio Preto (SP), Presidente Prudente (SP), Três Lagoas (MG), Triângulo Mineiro (MG), Campo Grande (MS) and Noroeste do Paraná. For the sake of comparisons, the same analyses were carried for the fed cattle hedge operations, in the same regions. The average value of the basis and the basis risk of fed cattle hedge and calf cross hedge was calculated for 58 future contracts, in the last week of contract life, and econometric analyses were performed. The main results arising from the preceding analyses can be pointed out: i) average basis value and basis risk of calf were higher than the values of fed cattle in all regions; ii) the basis standard deviation for fed cattle was 80,67% lower than for calf; iii) the regions comprised by IBG, calculated by the CEPEA/FEALQ, showed lower fed cattle basis risk compared to the other regions under study; iv) the calf basis risk in the regions studied did not present statistically significant differences. In a second stage, the study analyzed the optimal hedge ratio and the related effectiveness of own and cross hedge, according to the methodology proposed by Myers & Thompson (1989). The estimated hedge ratio was high in both cases, between 37% and 49% for the optimal hedge ratio and 58% to 63% for the cross hedge. The own hedge figures mean a 50% reduction in price risk when hedging at the optimal ratio, a value that drops consistently to about 1,5% for all regions when the cross hedge is considered. The main conclusion of the study is that the BM&F fed cattle future markets are quite effective as a price risk reduction strategy for the own hedge operations, but lack effectiveness in this sense for the calves cross hedge. Market agents trying to use the calf price and the exchange relation between fed cattle and calf prices for cattle selling decisions should not rely on this mechanism for price risk reductions.
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McKaig, Andrew J. "Are asset prices predictable? : evidence from the UK futures market." Thesis, University of Aberdeen, 1998. http://digitool.abdn.ac.uk/R?func=search-advanced-go&find_code1=WSN&request1=AAIU105678.

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The purpose of this thesis is to provide evidence on the predictability of asset prices: does it exist and what are its characteristics? Therefore processes underlying asset price behaviour are the central concern of this thesis. Utilising UK futures market data, initial time-series tests consider if, ex post, prices depart from random behaviour and if linkages exist between prices set in different markets. Results show that departures from randomness exist, namely, persistence and mean reversion, and suggest that prices in some markets may be used to forecast prices set in other markets. The thesis then investigates the mean reversion characteristics of the data by conducting 'model-based' tests on the existence and sources of mean reversion. Subject to the maintained hypothesis of the cost-of-carry model, tests reveal expected transitory components in commodity and metals prices across maturities. For financial assets, expected mean reversion is found only at the near to maturity horizons. Implied cash flow yields and interest rate movements have a role in driving the transitory process but this varies across assets and maturities. Using multivariate estimation procedures and focussing on asset bases, the thesis then explores whether predictability may be due to a common component driven by an unobservable source of risk. Movement in the price of systematic risk is proxied by ex ante variables that have been shown to have predictive power for returns from bond and stock markets. For financial assets, the evidence cannot reject common movement at short horizons but rejects common movement at longer horizons. Further tests reveal that the observed short run commonalties are dominated by systematic components associated with expected future spot rates. In contrast, tests reveal that agents' in metal and energy markets appear to price the systematic risk associated with their futures position as well that associated with spot price forecasts.
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Goetz, Cole Louis. "The Effects of Futures Markets on the Spot Price Volatility of Storable Commodities." Thesis, North Dakota State University, 2019. https://hdl.handle.net/10365/29795.

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This thesis examines the relationship between spot prices, futures prices, and ending stocks for storable commodities. We used Granger causality and DAGs to determine causal relationships and cointegration tests to determine long-run relationships. We use VAR/VECM and consider innovation accounting techniques to see how volatility in one market affects the price behavior and volatility in the other market. Results suggest that for agricultural commodities, innovations in futures price permanently increase the level of spot prices while accounting for much of spot price variance over time. For national oil, shocks to futures price decrease the level of spot price in the long run. In regional oil markets, there are transitory impulse responses. Futures price plays a small role in the volatility of spot prices for oil over time. Overall results are mixed, with oil suggesting futures markets may have a price stabilizing effect and agriculture commodities indicating spot price destabilization.
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Keyser, Johannes de Kock. "The relationship between futures prices and expected future spot prices : some South African evidence." Thesis, Stellenbosch : Stellenbosch University, 2002. http://hdl.handle.net/10019.1/53155.

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Thesis (MBA)--Stellenbosch University, 2002.
ENGLISH ABSTRACT: A unique data set consisting of economists' expectations on key economic indicators was examined within the context of the controversial normal backwardation theory of Keynes. The economists' expectations were regarded as the expected future spot price and the relationship between them and the corresponding futures contracts was analysed. The respective economic indicators were: i) the yield from aparastatal Bond, ii) the yield from Government Bonds, iii) the rate of the 90 day Banker's Acceptance (BA) Deposit Rate and iv) the Rand/Dollar (R/$) Exchange Rate for the past seven years, i.e. 1995 to 2001. The accuracy of the economists' predictions was tested both on a visual basis and the relationship between the expected values and the futures prices was plotted in a graphical format. A nonparametric statistical procedure was used to determine whether the economists' expectations were of any value. To put it differently, the question being posed is: do these economists, as a group, possess some superior forecasting skills? Two different conclusions were reached from the analysis: First conclusion: by accepting the normal backwardation theory, it implies that the contango theory also holds. Therefore, when analysing the data set visually - depending on which theory it supports - the futures price must trade consistently below or above the expected future spot price. For this particular analysis the yield of the bond, and not its price, was the important factor. In most cases the plotted relationships between the expected values and the futures prices were found to support the contango theory and, to a lesser extent, the normal backwardation theory. Hence, speculators were, in order to make profits, predominately sellers of futures contracts. Second conclusion: the strongest conclusion, however, follows from the statistical tests conducted on the expected values. It was found that economists do possess some superior forecasting skills and if they had used their predictions and had taken the corresponding market positions, they would have been consistent winners in the futures market. Their reward would be mainly for their ability to forecast eventual spot prices and, to a lesser extent, for their risk bearing. It was impossible to link the two conclusions to confirm the normal backwardation theory, for the particular South African data set. The evidence is thus consistent with the hypothesis that the futures price is an unbiased estimate of the expected future spot price.
AFRIKAANSE OPSOMMING: 'n Unieke datastel, bestaande uit ekonome se vooruitsigte van kern ekonomiese aanwysers, is ondersoek binne die konteks van die omstrede normale terugwaardasie-teorie (d.i. "normal backwardation theory") van Keynes. Die ekonome se vooruitsigte is aanvaar as die verwagte toekomstige kontantprys en die verhouding hiertussen en die ooreenstemmende termynpryse is ontleed. Die onderskeie ekonomiese aanwysers was: i) die opbrengs op 'n Semi-Staatseffek, ii) die opbrengs op Staatseffekte, iii) die koers van die negentig-dae-Bankaksepte (BA) Depositokoers en iv) die Rand/Dollar (R/$) Wisselkoers oor die afgelope sewe jaar, d.w.s. 1995 tot 2001. Die akkuraatheid van die ekonome se vooruitskattings is op 'n visuele basis vergelyk, en die verhouding tussen die verwagte prys en die termynpryse is in grafiese formaat gekarteer. 'n Nie-parametriese statistiese prosedure is gebruik om vas te stel of hierdie ekonome se vooruitsigte van enige waarde was. Anders gestel, die vraag is: beskik hierdie ekonome as 'n groep oor sekere superieure vooruitskattingsvaardighede? Die volgende twee afsonderlike gevolgtrekkings is geformuleer: Eerste gevolgtrekking: deur die normale terugwaardasie-teorie te aanvaar, impliseer dit dat die contango-teorie (d.i, "contango theory") ook geldig is. Dus, wanneer die datastel visueel getoets word - afhangende van watter teorie dit ondersteun - moet die termynprys konsekwent bo of onder die verwagte toekomstige kontantprys verhandel. Vir hierdie bepaalde analise was die opbrengs van die staatseffek die belangrike faktor en nié die prys daarvan nie. In die meeste gevalle het die gekarteerde verhouding tussen die verwagte prys en die termynprys getoon dat dit die contango-teorie ondersteun het en, in 'n mindere mate, die normale terugwaardasie-teorie. Derhalwe was spekulante, ten einde wins te maak, oorwegend die verkopers van termynkontrakte. Tweede gevolgtrekking: die belangrikste gevolgtrekking volg egter uit die statistiese toetse wat uitgevoer is op die verwagte pryse. Daar is bevind dat ekonome wel oor superieure vooruitskattingsvaardighede beskik en dat, indien hulle hul vooruitskattings gebruik en die ooreenstemmende markposisies ingeneem het, hulle konsekwent wenners in die termynmark sou gewees het. Hulle vergoedings sou hoofsaaklik gewees het vir hulle vermoë om uiteindelike kontantpryse te voorspel en, in 'n mindere mate, vir hulle risiko-blootstelling. Dit was onmoontlik om hierdie twee vergelykings met mekaar te verbind om sodoende die normale terugwaardasie-teorie te onderskryf vir die betrokke Suid-Afrikaanse datastel. Die bewyslewering is dus konsekwent met die hipotese dat die termynprys 'n onsydige skatting van die verwagte toekomstige kontantprys is.
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Ely, David Paul. "Futures markets and cash price stability." The Ohio State University, 1986. http://rave.ohiolink.edu/etdc/view?acc_num=osu1272292312.

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Nilsson, Mattias. "Is The Oil Market Efficient? : A Cointegration Study of Spot and Futures Prices." Thesis, Mid Sweden University, Department of Social Sciences, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:miun:diva-527.

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The oil market is arguably the most influential commodity market in the world, in that it has an effect on all economic variables in one way or another. Due to oil’s central role in the world economy, it is of the utmost importance that all parts of society strive to increase the understanding of how the market works. This study has analysed the efficiency of the oil market in the period 1986 to 2008, with the efficient market hypothesis as the theoretical framework. Data on the prices of spot and futures contracts on crude and heating oil has been collected from the New York Mercantile Exchange, and tested for cointegration, with the underlying assumption being that cointegration is a sign of weak form efficiency. The results implies that the spot and futures prices have not been cointegrated during the studied period, and thus we conclude that the oil market has not behaved in accordance with the weak form of the efficient market hypothesis.

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Books on the topic "Cattle futures market prices"

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Evans, Kevin J. An integrated approach to modeling price volatility in the live cattle futures market. Ithaca, N.Y: Dept. of Agricultural Economics, Cornell University Agricultural Experiment Station, New York State College of Agriculture and Life Sciences, Cornell University, 1992.

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Folwell, Raymond J. Aspects of Washington-Oregon cattlemen using futures market. [Pullman, Wash.]: Agriculture Research Center, College of Agriculture and Home Economics, Washington State University, 1985.

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3

D, Hamilton James. Daily changes in fed funds futures prices. Cambridge, Mass: National Bureau of Economic Research, 2007.

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4

Tomek, William G. Dynamics of price changes: Implications for agricultural futures markets. Ithaca, N.Y: Dept. of Agricultural Economics, Cornell University Agricultural Experiment Station, New York State College of Agriculture and Life Sciences, Cornell University, 1993.

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Liang, Shen, ed. Yi ge nong min de yi wan chuan qi: A farmers hundreds of millions of wealth legend. Beijing: Zhongguo jing ji, 2013.

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Analyzing and forecasting futures prices: A guide for hedgers, speculators, and traders. New York: Wiley, 1992.

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Piazzesi, Monika. Futures prices as risk-adjusted forecasts of monetary policy. Cambridge, Mass: National Bureau of Economic Research, 2004.

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Piazzesi, Monika. Futures prices as risk-adjusted forecasts of monetary policy. Cambridge, MA: National Bureau of Economic Research, 2004.

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9

Goetzmann, William N. Index funds and stock market growth. Cambridge, MA: National Bureau of Economic Research, 1999.

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Gilbert, Christopher L. Cocoa market liberalization: Its effects on quality, futures trading and prices. London: Queen Mary and Westfield College, 1997.

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Book chapters on the topic "Cattle futures market prices"

1

Lowry, Mark Newton. "Futures prices and hidden stocks of refined oil products." In International Commodity Market Models, 263–73. Dordrecht: Springer Netherlands, 1991. http://dx.doi.org/10.1007/978-94-011-3084-4_14.

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Artus, Patrick. "When does the creation of a futures market destabilize spot prices?" In International Commodity Market Models, 233–52. Dordrecht: Springer Netherlands, 1991. http://dx.doi.org/10.1007/978-94-011-3084-4_12.

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Kumar, Raushan, Nand Kumar, Aynalem Shita, and Sanjay Kumar Pandey. "Lead–Lag Relationship Between Spot and Futures Prices of Indian Agri Commodity Market." In Lecture Notes in Mechanical Engineering, 339–48. Singapore: Springer Singapore, 2021. http://dx.doi.org/10.1007/978-981-15-8542-5_29.

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Adugna, Teressa. "4. Determinants of Market Prices of Livestock: The Case of Cattle in Alemaya, Eastern Ethiopia." In Pastoral Livestock Marketing in Eastern Africa, 57–72. Rugby, Warwickshire, United Kingdom: Practical Action Publishing, 2006. http://dx.doi.org/10.3362/9781780440323.004.

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Simpson, John L. "Natural Gas Market Liberalization: An Examination of UK and US Futures and Spot Prices." In Energy Economics and Financial Markets, 175–94. Berlin, Heidelberg: Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-30601-3_10.

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Lerkeitthamrong, Khunanont, Chatchai Khiewngamdee, and Rossarin Osathanunkul. "Impacts of Global Market Volatility and US Dollar on Agricultural Commodity Futures Prices: A Panel Cointegration Approach." In Structural Changes and their Econometric Modeling, 412–22. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-030-04263-9_32.

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"Using futures prices to control inflation: reply to Garrison and White." In Money and the Market, 114–17. Routledge, 2013. http://dx.doi.org/10.4324/9781315011615-18.

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Zhu, Heliang, Xi Zhang, and Patricia Ordenaz de Pablos. "The Role of Gold Market as Stabilizer of Service Industry." In Advances in Logistics, Operations, and Management Science, 267–82. IGI Global, 2016. http://dx.doi.org/10.4018/978-1-4666-9758-4.ch014.

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China's gold futures market has been in market for more than four years, is the risk transfer function fully realized? How the performance of hedging? Based on the data of futures prices and spot prices from January 9th of 2008 to December 31st of 2010, we use the following four statistical models such as traditional regression model (OLS), two-variable vector auto regression model (B-VAR), error correction hedging model (ECM), and error correction GARCH model (EC-GARCH) to perform stationarity and cointegration test On the basis of minimum risk hedge ratio estimated, the following conclusions are made based on the study: (1) As China's gold futures market has run for more than three years, hedge is effective through the gold futures market, which can significantly reduce the participants ‘ risk of price fluctuation; (2)In practice, hedging ratio should be rationally determined by different models according to different hedging length and different expectations. Based on these conclusions, this paper also made corresponding policy recommendations.
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Ekblom, Anneli. "A Historical Ecology of Cattle in Mozambique." In At Nature's Edge, 81–104. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780199489077.003.0004.

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The historical ecology of cattle in Mozambique illustrates the intricate and long-term relationship between people, cattle, and landscapes, and the ecological skills of farmers and herders. Africa’s long history of cattle breeding is a history of careful selection for specific traits and of hybridization between breeds and of breed conservation. Despite variations in cattle numbers due disease, droughts and confiscations of cattle, herders have managed to replenish their herds relatively quickly. Herders have been able to respond to shifting market demands and the informal local cattle market has remained strong. The relative stability of cattle prices in relation to other currencies suggests that ‘cattle economy’ is governed by a different logic compared to other potential stores of wealth. The ecological knowledge and economic strength of local cattle rearing needs to be taken into account both in development and landscape planning.
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"The structure of prices of other instruments of a financial market. Forwards, futures, bonds." In Translations of Mathematical Monographs, 73–83. Providence, Rhode Island: American Mathematical Society, 1999. http://dx.doi.org/10.1090/mmono/184/08.

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Conference papers on the topic "Cattle futures market prices"

1

He, Qizhi. "The Relationship between Prices of Domestic and Foreign Futures Market." In 2009 International Conference on Business Intelligence and Financial Engineering (BIFE). IEEE, 2009. http://dx.doi.org/10.1109/bife.2009.169.

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Chen, A. P., H. Y. Chiu, C. C. Sheng, and Y. H. Huang. "Do markets behave as expected? Empirical test using both implied volatility and futures prices for the Taiwan Stock Market." In COMPUTATIONAL FINANCE 2006. Southampton, UK: WIT Press, 2006. http://dx.doi.org/10.2495/cf060291.

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Staugaitis, Algirdas Justinas. "Financial speculation impact on agricultural commodity price volatility: TGARCH approach." In 21st International Scientific Conference "Economic Science for Rural Development 2020". Latvia University of Life Sciences and Technologies. Faculty of Economics and Social Development, 2020. http://dx.doi.org/10.22616/esrd.2020.53.014.

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Motivated by agricultural commodity price fluctuations and spikes in the last decade, we investigate whether financial speculation destabilizes the price of agricultural commodities. The aim of this research is to assess the impact of financial speculation on agricultural commodity price volatility. In our study we use weekly returns on wheat, soybean and corn futures from Chicago Mercantile of Exchange. To measure this impact, we apply autoregressive conditional heteroskedasticity (ARCH) technique. We also propose a model with seasonal dummy variables to measure if financial speculation impact on price volatility differs among seasons. The results of our research indicate that financial speculation as an exogenous factor has either no effect or reduces the volatility of the underlying futures prices. Therefore, we conclude that the increase of non-commercial market participants does not make the agricultural commodity prices more volatile or this link is at least questionable.
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Xie Yuan and Chen Ru-kai. "The net fuzzy clustering analysis of the sugar prices at home and abroad? —Based on the data of the four big futures market in the first quarter of 2012." In 2013 8th International Conference on Computer Science & Education (ICCSE). IEEE, 2013. http://dx.doi.org/10.1109/iccse.2013.6554049.

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Reports on the topic "Cattle futures market prices"

1

Hong, Harrison, and Motohiro Yogo. What Does Futures Market Interest Tell Us about the Macroeconomy and Asset Prices? Cambridge, MA: National Bureau of Economic Research, January 2011. http://dx.doi.org/10.3386/w16712.

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