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Western Journal of Agricultural Economics >
Volume 11, Number 02, December 1986 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/32245
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| Title: | ARE LIVESTOCK FUTURES PRICES RATIONAL FORECASTS? |
| Authors: | Shonkwiler, John Scott |
| Issue Date: | 1986-12 |
| Abstract: | A measure for evaluating whether live hog and cattle futures prices represent rational forecasts is presented. It is assumed that the mechanisms which generate rational price forecasts possess the same stochastic properties as the cash prices with which they are associated. Using empirical data, tests are constructed which suggest that for contracts more than two months from maturity the rationality hypothesis is generally rejected. These findings are related to other studies of futures performance and the livestock markets. |
| URI: | http://purl.umn.edu/32245 |
| Institution/Association: | Western Journal of Agricultural Economics>Volume 11, Number 02, December 1986 |
| Total Pages: | 6 |
| Language: | English |
| From Page: | 123 |
| To Page: | 128 |
| Collections: | Volume 11, Number 02, December 1986
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| 11020123.pdf | 500Kb | PDF | View/Open |
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