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...

Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

The commodity bull cycle of 2006-2008 and subsequent dramatic price decline have been asource of hardship for traditional commodity market participants such as producers andmerchant/shippers. The usefulness of futures markets has been called into question, especiallygiven that some market...

Futures prices when combined with a basis forecast provide a reliable way to forecast cashprices. The most popular method of forecasting basis is historical moving averages. Given therecent failure of longer moving averages proposed by previous studies, this research reassessespast...

Includes cover page, journal info, contents page, and editorial information

This report presents State-level soybean production cost and return estimates for the 1990 production year, along with coefficients of variation for each cost item. Per-acre costs are highly variable among States due to differences in production practices, inputs, and type and size of machines...

The Economic Research Service (ERS), U.S. Department of Agriculture (USDA), estimates gross farm income and its component cash receipts and government payment accounts annually. Loan activity data from USDA's Commodity Credit Corporation (CCC) are critical to these estimations. This report...

U.S. annual per capita use of cabbage is higher than per capita use of any other cruciferous vegetable, including broccoli, cauliflower, kale, brussels sprouts. and turnip-so In 1993. per capita use was 9.5 pounds. 88 percent of which was marketed in fresh form. Per capita use has changed only...