Eight Texas High Plains cotton farms, ranging in size from 189 acres to 5,570 acres, were simulated under six alternative farm program provisions to determine the likely structural impacts of these programs. The results indicate mid-size farms benefit more from farm programs than either small or...

The dynamic relationship between daily cash and futures prices is investigated using time series analysis. The procedure involves causality tests between the two price series. The results show that futures price movements lead cash prices, implying that prices are discovered in the futures market.