Many recent studies have evaluated potential market power in the U.S. cattle procurement market using either new empirical industrial organization (NEIO) models or auction models. The model derived here shows the NEIO model holds in some cases, while the auction theory can fully describe market...

United States producer organizations spend millions of dollars on generic advertising of both beef and pork and other promotion programs designed to stimulate consumers' demand for meat. Producers need to know if the money allocated to generic advertising and these promotion programs is...

Gulf wheat forward basis bids increase as harvest approaches. Forward contract prices four months before harvest average $0.4|bu. less than prices at harvest. Prices received by directly hedging in the futures market are estimated to be higher than prices received through forward contracts. ©...

This article explores lead-lag relationships among daily cash prices of soybeans, soybean oil, and soybean meal. The article seeks to determine the impact of a change in one of these prices on the others. Results show changes in the cash price of soybeans have a greater effect on product prices...

The effect of output price risk on soybean crushing margins is determined. The results show crushing margins increase as risk increases indicating soybean processors are risk averse. Thus, soybean processors with better risk management strategies may have a competitive advantage. Policy...

Producers have a wide variety of risk management instruments available, making their choice(s) complex. The way producers deal with this complexity can vary and may influence the impact that the determinants, such as risk aversion, have on their choices. A recently developed choice bracketing...

This study investigates the impact of U.S. Department of Agriculture World Agricultural Supply and Demand Estimate (WASDE) reports on implied volatility in corn and soybean markets over 1985 to 2002. If WASDE reports resolve uncertainty, implied volatility should drop immediately after release...

Analysis of a unique data set of 1,400 U.S. crop producers using a mixture-modeling framework shows that the likelihood of Marketing Advisory Services (MAS) use is, among others, driven by the perceived performance of MAS in terms of return and risk reduction, the match between the MAS and the...