This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings...

This study seeks to identify interproduct relationships between domestic catfish and a representative selection of imported seafood. In doing so, this study uses multivariate cointegration and structural analyses. Multivariate cointegration analysis suggests that six imported seafood product...

In this article, we examine disclosure as a tool to mitigate the effects of asymmetric information in a Thoroughbred yearling market. If disclosures influence market price, information contained therein must be valuable to buyers and hence diminish asymmetric information. Using public auction...

Current methods of formulating animal rations lead to excess nutrient excretion which can potentially lead to excess manure nutrients and an increase in economic costs. These methods do not recognize the impact of diminishing returns. The objective is to simultaneously optimize feed ration...

Economic effects for three scenarios of antimicrobial drug use in livestock production -- a no-ban scenario and two levels of bans -- are examined through cost minimization and a partial equilibrium analysis. Results indicate that regulating antimicrobial drug use in livestock production would...

From 1993 - 1995, Florida dairy cooperatives implemented a seasonal pricing plan in an attempt to decrease the variability in seasonal production. Farmers that participated in the seasonal pricing plan were able to reduce seasonality in each year when compared to 1992 by as much as 20 percent....

The cattle industry batch markets animals in pens. Because of this, animals within any one pen can be both underfed and overfed. Thus, there is a production inefficiency associated with batch marketing. We simulate the value of sorting animals through weight and ultrasound measurements from...

Factors unique to the turkey industry suggest that conclusions concerning market structure and demand specification drawn from aggregate poultry data cannot necessarily be extrapolated to the turkey industry. The Wu-Hausman endogeneity test is used to examine demand specifications and industry...

Produced as a joint product, economic theory suggests that manure value could influence livestock management decisions such as herd size and optimal market weights. This study examines the concept of manure and its connection with optimal replacement age or market weight. A model of a swine...