@article{Brandenberger:183430,
      recid = {183430},
      author = {Brandenberger, Tracy L. and Irwin, Scott H. and Good,  Darrel L.},
      title = {The Pricing Performance of Market Advisory Services in  Cattle Over 1995-2004},
      address = {2012-06-20},
      number = {1631-2016-134967},
      series = {AgMAS Project Research Report},
      pages = {96},
      month = {Jun},
      year = {2012},
      abstract = {The purpose of this report is to evaluate the pricing  performance of market advisory services’ live cattle  hedging recommendations over 1995-2004. Also, feeder  cattle, corn, and soybean meal recommendations were  evaluated as input hedges and combined with the live cattle  marketing recommendations to approximate the margin that a  typical feedlot would face from the third quarter of 1999  through 2004. Other marketing assumptions were also applied  to approximate a real world feedlot in Western Kansas.  Several key assumptions are 1) the feedlot markets on  average 1 cwt. of live cattle per quarter, inputs are  purchased at rates that will yield on average 1 cwt. of  live cattle per quarter, or 4 cwt. total per year, 2) the  marketing widow for live cattle marketings begins six  months prior to the start of the marketing quarter, making  the total marketing window nine months long, 3) brokerage  costs are subtracted from futures and options markets gains  or losses and 4) the quarterly purchases of inputs, live  cattle marketings and benchmark prices are weighted by  quarter to reflect the cyclical nature of live cattle  marketing.},
      url = {http://ageconsearch.umn.edu/record/183430},
      doi = {https://doi.org/10.22004/ag.econ.183430},
}