@article{Ennen:11088,
      recid = {11088},
      author = {Ennen, David L.},
      title = {TECHNICAL ANALYSIS OF THE FUTURES MARKET AND ITS RELATION  TO HEDGING},
      address = {1979},
      number = {1097-2016-88665},
      series = {Graduate Research Master's Degree Plan B Papers},
      pages = {46},
      year = {1979},
      abstract = {The cattle market is known for its extreme price  fluctuations that can make a pauper out of a prince.  The  boom or bust nature of the industry is nothing new, as the  change in prices can be fairly dramatic.  Since the price  that a cattle feeder receives for his cattle has a large  impact on his profits, the severe price changes have had a  major impact on the variation in net profits for cattle  feeders.
	If a cattle feeder is going to reduce his price  risk by using selective hedging, he has to either (a) be a  good price forecaster or (b) have some strategy that is  less subjective than price forecasting.  If his judgement  is incorrect, he could be hedged when the price is  increasing and unhedged when the price is decreasing,  increasing the volatility of his income and decreasing the  average income.  Therefore, if the entrepreneur is going to  be able to use the futures market to protect himself from  price declines, he will need to be able to determine when  the futures price is going to fall.},
      url = {http://ageconsearch.umn.edu/record/11088},
      doi = {https://doi.org/10.22004/ag.econ.11088},
}