@article{Yang:285673,
      recid = {285673},
      author = {Yang, Li},
      title = {Commodity Futures Market Reaction to Anticipated Public  Reports: Frozen Pork Bellies},
      address = {1996-04},
      series = {NCCC-134 Applied Commodity Price Analysis, Forecasting,  and Market Risk Management},
      year = {1996},
      abstract = {This paper investigates the reaction of the frozen pork  bellies futures market to the release of inventory  information. Knight-Ridder releases their analysts'  forecasts two days prior to the estimates provided by USDA.  The model provides a direct link between analysts'  forecasts, the USDA estimates, and traders' beliefs on the  frozen pork bellies inventories in storage. It differs from  previous studies in that the price reaction depends on the  information content of the difference between the USDA  estimates and the analysts' forecasts, and on the  dispersion among the analysts' forecasts. It is shown that  empirical tests based solely on the information content of  the forecasts induce possible measurement error and result  in the biased findings.},
      url = {http://ageconsearch.umn.edu/record/285673},
      doi = {https://doi.org/10.22004/ag.econ.285673},
}