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An Analysis Of Factors Influencing Feeder Cattle Futures Contract Basis And Specifications
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Book Synopsis An Analysis of Factors Influencing Feeder Cattle Futures Contract Basis and Specifications by : Fred C. Eilrich
Download or read book An Analysis of Factors Influencing Feeder Cattle Futures Contract Basis and Specifications written by Fred C. Eilrich and published by . This book was released on 1991 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fundamental Factors Affecting Feeder Cattle and Beef Cattle Futures by :
Download or read book Fundamental Factors Affecting Feeder Cattle and Beef Cattle Futures written by and published by . This book was released on 1976 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of Factors Affecting Feeder Cattle Prices at Arizona Livestock Auctions by : Charles Curtis Howard
Download or read book An Analysis of Factors Affecting Feeder Cattle Prices at Arizona Livestock Auctions written by Charles Curtis Howard and published by . This book was released on 1971 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Forecasting the Futures Market Basis Patterns for Tennessee Feeder Cattle by : Dan Lucien McLemore
Download or read book Forecasting the Futures Market Basis Patterns for Tennessee Feeder Cattle written by Dan Lucien McLemore and published by . This book was released on 1990 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Performance of the Live Cattle Futures Contract by : Brian W. Barton
Download or read book Performance of the Live Cattle Futures Contract written by Brian W. Barton and published by . This book was released on 1984 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysis and Use of the Florida Feeder Cattle Futures Basis by : James R. Simpson
Download or read book Analysis and Use of the Florida Feeder Cattle Futures Basis written by James R. Simpson and published by . This book was released on 1985 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Basis for Feeder Cattle at Selected Kansas Locations by : Randall Lewis Johnson
Download or read book The Basis for Feeder Cattle at Selected Kansas Locations written by Randall Lewis Johnson and published by . This book was released on 1980 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Descriptors: cattle trade, feeder cattle, livestock.
Book Synopsis Analysis of Factors Affecting the Prices Paid for Feeder Cattle at Northern Michigan Beef Feeder Cattle Sales by : D. L. Cole
Download or read book Analysis of Factors Affecting the Prices Paid for Feeder Cattle at Northern Michigan Beef Feeder Cattle Sales written by D. L. Cole and published by . This book was released on 1967 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Factors Affecting Feeder Cattle Prices in New York State by : Jing Qian
Download or read book Factors Affecting Feeder Cattle Prices in New York State written by Jing Qian and published by . This book was released on 2014 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price determination for feeder cattle is complex because many factors (and their interactions) impact feeder cattle markets. Further, feeder cattle price differentials associated with feeder cattle weight vary as economic conditions change over time. By collecting market price data from 2011 through 2013 for a series of feeder cattle auctions at a livestock exchange in upstate New York and futures price data on finished cattle and feed inputs, the effects of various market conditions, lot characteristics, quality attributes, and auction characteristics on local feeder cattle prices are identified. Feeder cattle prices are found to vary importantly by the levels and volatilities in fed cattle and corn futures prices, sex of the animal, and month of sale. Results also reveal significant premiums for feeder cattle based on certain breed, heavy muscling, and preconditioning, while buyers discount for bulls, horns, smaller frame size, light muscling, and unthrifty cattle. The values of these premiums and discounts vary as cattle grow. Larger uniform lots, the number of buyers, and earlier sale time within an auction are also associated with higher prices on average. The values of these price changes are important as producers compare these values with the costs associated with management practices that address them.
Book Synopsis Essays on Futures Contracts as a Feeder Cattle Price Risk Management Tool by : Justin Dean Bina
Download or read book Essays on Futures Contracts as a Feeder Cattle Price Risk Management Tool written by Justin Dean Bina and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of two articles analyzing the feeder cattle futures contract as a price risk management tool. The first article implements transaction-level data and feeder cattle futures interaction terms in a hedonic pricing model framework to estimate optimal feeder cattle hedge ratios conditioned on the price of corn. This deviates from previous feeder cattle hedging literature, which typically employs aggregate weekly data and simple linear regressions of cash price against futures price to estimate hedge ratios. Hedging risk using corn-conditioned hedge ratios is compared to estimated hedge ratios that are not dependent on corn price. The second article again implements transaction-level data and a hedonic pricing model framework to evaluate whether feeder cattle basis risk has changed over time and to identify factors driving basis risk. The method developed in the second article differs from previous livestock basis risk assessments in that out-of-sample transaction price prediction errors are used to represent unexplained cash price deviations from feeder cattle futures price, or basis risk. Results from both articles indicate varying market conditions and animal characteristics have important impacts on the effectiveness of feeder cattle futures for price risk management in a heterogeneous market.
Book Synopsis Impact of Cash Settlement and Market Fundamentals on Feeder Cattle Basis by : Tanner M. Aherin
Download or read book Impact of Cash Settlement and Market Fundamentals on Feeder Cattle Basis written by Tanner M. Aherin and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: With volatile cattle markets, comes substantial amounts of price risk for all parties involved in the industry. Hedging with futures markets to mitigate risk is a common practice performed by commercial producers. For this to be an effective risk management tool, the futures contract must function correctly by accurately representing the price and quality of the underlying product. Often times, commodity futures contracts are settled by physical delivery. However, two livestock contracts transitioned to a cash settled index, feeder cattle in 1986 and lean hogs in 1997, to enhance the performance of the contract and promote participation by commercial users. Eliminating high delivery costs, reducing any issues with the grading process when the product is delivered, and portraying a truer commercial value, are some of the benefits of a cash settlement index. There has been some speculation that dates back to the 1980's regarding whether the live cattle futures contract should switch to cash settlement rather than physical delivery. This study was done to measure the impact the change to cash settlement had on the hedging ability of the feeder cattle futures contract. Even though the feeder cattle contract represents a different sector of the industry, the results still provide some insight as to whether cash settlement can be advantageous for a futures contract. The ability to forecast basis is critical when hedging with futures to manage risk. The magnitude of basis prediction error (BPE), or the difference between expected basis and actual basis, is a common method used to measure the hedging ability of a futures contract. This procedure was utilized to analyze the effects the change to cash settlement had on BPE in six different regions: Kansas, Missouri, Nebraska, North/South Dakota, Oklahoma, and Texas. Expected basis was calculated using a two, three, and four year historical average technique for each respective week to contract expiration. Other market factors were also included in the models to ensure the cash settlement adjustment was not the sole reason for BPE variations over time. To estimate the impact the different elements have on basis predictability, Ordinary Least Squares regression was used for each of the three stacked models. For the two-year historical basis prediction error model, Kansas was the only area with a statistically significant value indicating cash settlement reduced BPE by $0.18. Three states, Kansas (-$0.24/cwt.), Missouri (-$0.17/cwt.), and Texas (-$0.16/cwt.), showed a statistically significant decrease in BPE due to cash settlement for the three-year historical basis prediction error model. Also, the coefficient for Oklahoma was just slightly above the statistically significant level. However, the four-year model had moderately different results. The estimate for Kansas was statistically significant at -$0.18/cwt. meaning cash settlement reduced BPE, while the Dakotas region actually showed a statistically significant increase in BPE by $0.18/cwt. This research provides evidence that cash settlement can improve the basis predictability of a futures contract depending on the region and technique used to calculate expected basis.
Book Synopsis Feeder Cattle Futures by : John Addis Dole
Download or read book Feeder Cattle Futures written by John Addis Dole and published by . This book was released on 1979 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Research Report P written by and published by . This book was released on 1972 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Effects of Economic and Production Factors Across Weights of Feeder Steers and Heifers in Southern Great Plains States by : Garrett Craig Lister
Download or read book Price Effects of Economic and Production Factors Across Weights of Feeder Steers and Heifers in Southern Great Plains States written by Garrett Craig Lister and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Feeder cattle are placed into feedlots at varying weights. This placement weight is the result of procurement decisions by cattle feeders and of marketing decisions by cow/calf and stocker/backgrounder producers. Increased understanding of the behavior of these markets can help both buyers and sellers of feeder cattle make these decisions. Past research has used linear or quadratic variables or interaction variables in order to model the effects of weight on price. This study instead divides the market for feeder cattle into ten distinct subsets which are evaluated independently. The feeder cattle market for four major cattle feeding states in the Southern Great Plains (Nebraska, Kansas, Oklahoma and Texas) was divided into ten subsets, five in each gender. Each of these represent feeder cattle coming to market in a 50 pound weight range, centered upon 525, 625, 725, 825 and 925 pounds. Each of these subsets was analyzed using seven independent variables selected based upon previous research and economic rationale. These variables were the live futures price, previous feedlot returns, feeder cattle inventory, interest rate, feedlot capacity utilization, cost of gain and pasture conditions. The data for these variables were collected from public sources, aggregated into monthly observations and differenced to correct for nonstationarity. Analysis was conducted using ordinary least squares regressions. Results are reported and trends between weight classes discussed along with their implications. Findings support that feeder cattle of different weights are not perfect substitutes and that market and production factors do not influence all weights of feeder cattle the same. In fact, factors which positively and negatively affect feeder cattle price seem to signal that demand for, or in the case of pasture supply of, feeder cattle of a particular weight has changed and that placement price-weight relationships will adjust accordingly.
Book Synopsis Live and Feeder Cattle Futures and Options Contract Specification by : Derrell S. Peel
Download or read book Live and Feeder Cattle Futures and Options Contract Specification written by Derrell S. Peel and published by . This book was released on 1995 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Futures Trading in Livestock by : Henry Harrison Bakken
Download or read book Futures Trading in Livestock written by Henry Harrison Bakken and published by . This book was released on 1970 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Publication written by and published by . This book was released on 1992 with total page 868 pages. Available in PDF, EPUB and Kindle. Book excerpt:
