The first decade of the 21st century has perhaps witnessed more structural change in commodity futures markets than all previous decades combined. Not only have trading volumes and open interest increased markedly, but this time period also saw historic changes in both trading and participants....

Nach den aktuellen Erkenntnissen der nutztierwissenschaftlichen Forschung rekurriert das Verständnis von Animal Welfare auf vier Kriterien: Haltungssystem, Management, Tiergesundheit und Tierverhalten (KEELING und KJ™RNES, 2009). Es ist jedoch unklar, inwieweit sich dieses Verständnis auch...

The traditional necessary condition for futures market inefficiency is the existence of alternative forecasting methods that produce mean squared forecast errors smaller than the futures market. Here, a more exacting requirement for futures market efficiency is proposed-forecast encompassing....

Theoretical noise trader models suggest that uninformed traders can impact market prices. However, these models' conclusions depend crucially on the assumed specification for noise trader demand. This research seeks to empirically determine the appropriate demand specification for uninformed...

Mailbox milk prices from a representative dairy operation in Illinois are used to gauge the farm-level hedging effectiveness of Class III milk futures. The results indicate a hedge ratio of 0.85 can reduce price risk by over 90%. The importance of seasonal basis components is highlighted.

The institutional framework of the certification scheme is a crucial factor for the future success of the organic market. Increasing complexity and a few scandals indicate that the current control structures might be insufficient. A better understanding of farmers’ attitudes is necessary to...