Hedging Feedlot Cattle: A Canadian Perspective
作者:
C. A. Carter,
R. M. A. Loyns,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1985)
卷期:
Volume 67,
issue 1
页码: 32-39
ISSN:0002-9092
年代: 1985
DOI:10.2307/1240821
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractEmpirical testing of alternative hedging strategies raises doubts about the usefulness of U.S. live cattle futures markets for cattle fed in Canada. Actual data from almost 100,000 head of custom fed cattle over a nine‐year period were analyzed to test profitability and risk reduction associated with fourteen specific hedging routines. Full cost and revenue data from cattle custom fed in the three prairie provinces were used in this paper. The strategies tested were typical of those a custom feeder could use to attempt to reduce output price risk. The results indicate that hedging cattle in Canada is more complex than previous literature suggests.
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