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Western Journal of Agricultural Economics >
Volume 13, Number 02, December 1988 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/32106
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| Title: | CASH AND FUTURES PRICE RELATIONSHIPS FOR NONSTORABLE COMMODITIES: AN EMPIRICAL ANALYSIS USING A GENERAL THEORY |
| Authors: | Naik, Gopal
Leuthold, Raymond M. |
| Issue Date: | 1988-12 |
| Abstract: | Empirical analysis examines the presence of basis risk, speculative component, and expected maturity basis component in basis relationships for nonstorable commodities. The results indicate that all three above components exist in both cattle and hog markets. The basis risk and speculative components vary across contracts. Hog markets showed seasonality, which helps explain the hog basis more accurately. Flexibility in making the marketing decision strengthens the explanation of intertemporal price relationships for both cattle and hogs beyond that previously attributed to only feed prices. |
| URI: | http://purl.umn.edu/32106 |
| Institution/Association: | Western Journal of Agricultural Economics>Volume 13, Number 02, December 1988 |
| Total Pages: | 12 |
| Language: | English |
| From Page: | 327 |
| To Page: | 338 |
| Collections: | Volume 13, Number 02, December 1988
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