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| Registros recuperados: 33 | |
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| Rahman, Shaikh Mahfuzur; Dorfman, Jeffrey H.; Turner, Steven C.. |
| Cottonseed crushers face substantial risk in terms of input and output price variability and they are limited in their planning by the lack of a viable futures contract for cottonseed or cottonseed products. This study examines the feasibility of cross-hedging cottonseed products using the soybean complex futures. Different cross-hedging strategies are evaluated for eight time horizons relative to the expected profit and utility of the crusher. A Bayesian approach is employed to estimate both model parameters and optimal hedge ratios, allowing consistency with expected utility maximization in the presence of estimation risk. The results reveal that both whole cottonseed and cottonseed products can be successfully cross-hedged using soybean complex futures.... |
| Tipo: Journal Article |
Palavras-chave: Bayesian decision science; Cottonseed; Cross-hedging; Risk management; Crop Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/31114 |
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| Rahman, Shaikh Mahfuzur; Dorfman, Jeffrey H.; Turner, Steven C.. |
| Cottonseed crushers face substantial risk in terms of input and output price variability and they are limited in their planning by the lack of viable futures markets for cottonseed or cottonseed products. This study examines the feasibility of cross-hedging cottonseed products using soybean complex futures. Bayesian tests for market efficiency are performed on the cash and futures prices. The test results reject the presence of nonstationary roots, leading to the conclusion that the markets are not efficient. Different cross-hedging strategies are designed and analyzed for eight different hedging horizons in order to maximize the expected profit and utility of the crusher. A Bayesian approach is employed to estimate the parameters, which is consistent with... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19708 |
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| Anderson, John D.; Hudson, Darren; Harri, Ardian; Turner, Steven C.. |
| The traditional conception of a thin market based on transactions volume remains relevant in many agricultural markets but does not adequately frame emerging thin market issues. As non-price means of pricing goods becomes more common, some cash commodity markets have become residual markets. In some of these markets, not only the volume of transactions but also the representativeness of transactions to those on the related contract market is an important issue. This paper develops a concept of thin markets that accounts for this dimension of market thinness and proposes a research agenda related to this topic. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2007 |
URL: http://purl.umn.edu/34826 |
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| Mixon, Bobby; Turner, Steven C.; Centner, Terence J.. |
| Specialty crop producers marketing problem, associated with lack of quality standards and advertising revenues, may detract from profitability. Although marketing orders, approved by producer referenda, offer a means to address these problems, institutional rules can make ratification difficult. In this study, economic structure was found to be more important than producer characteristics in explaining voter behavior in a Georgia Vidalia onions marketing order referendum. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 1990 |
URL: http://purl.umn.edu/32504 |
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| Rahman, Shaikh Mahfuzur; Turner, Steven C.; Costa, Ecio de Farias. |
| This study examines the feasibility of cross-hedging cottonseed meal with soybean meal futures. The Bayesian tests for market efficiency on the cash and futures price data soundly rejects the presence of nonstationary root. The simple linear regression of cottonseed meal cash prices on soybean meal futures provides a direct price movement relationship. Using the estimated hedge-ratios, the net realized prices are calculated for seven different cash markets. The net realized prices exhibit risk efficiency superior to cash pricing. The empirical analyses suggest that soybean meal futures can be used as a potential cross-hedging vehicle for cottonseed meal. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/16707 |
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| Rahman, Shaikh Mahfuzur; Turner, Steven C.; Costa, Ecio de Farias. |
| This study examines the feasibility of cross-hedging cottonseed meal with soybean meal futures. The simple linear regression of cottonseed meal cash prices on soybean meal futures provides a direct price movement relationship. Using the estimated hedge-ratios, the net realized prices are calculated for seven different cash markets. The net realized prices exhibit risk efficiency superior to cash pricing. The empirical analyses suggest that soybean meal futures can be used as a potential cross-hedging vehicle for cottonseed meal. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/21769 |
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| Turner, Steven C.; Dykes, Nancy S.; McKissick, John C.. |
| Three Georgia feeder cattle teleauction markets were analyzed from 1977 to 1988 to estimate the impacts of cattle characteristics and market conditions on prices. Cattle characteristic price impacts were similar to those in previous studies. The impact of feeder cattle futures price on teleauction price was positive but varied across markets. Optimal lot size ranged from 143 to 276 head. In one market, 14 lots were necessary to generate positive price impacts. Additional buyers were estimated to have a $.30/cwt per buyer impact on price. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1991 |
URL: http://purl.umn.edu/30047 |
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| Stavriotis, Paul A.; Houston, Jack E.; McIntosh, Christopher S.; Turner, Steven C.. |
| Resurging southeastern cotton production compels better cotton acreage forecasts for planning seed, chemical, and other input requirements. Structural models describe leading acreage response indicators, and forecasts are compared time-series models. Cotton price, loan rate, deficiency payments, lagged corn acreage, the PIK program, and previous cotton yield significantly influence response. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop Production/Industries. |
| Ano: 1998 |
URL: http://purl.umn.edu/16717 |
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| Houston, Jack E.; McIntosh, Christopher S.; Stavriotis, Paul A.; Turner, Steven C.. |
| Resurgent cotton production compels better acreage forecasts for planning seed, chemical, and other input requirements. Structural models describe leading acreage response indicators, and forecasts are compared to time-series models. Cotton price, loan rate, deficiency payments, lagged corn acreage, the PIK program, and previous cotton yield significantly influence cotton acreage response. |
| Tipo: Journal Article |
Palavras-chave: Resurgent cotton production; Cotton acreage; Crop Production/Industries. |
| Ano: 1999 |
URL: http://purl.umn.edu/15147 |
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| Turner, Steven C.; Heboyan, Vahe. |
| Research on rollover hedging for agricultural commodities has focused on the consequences of using existing contracts to substitute for missing long-term contracts. It appears that some grains are candidates for rollover hedging while livestock is not. Cotton was analyzed to evaluate the effectiveness of rollover hedging from 1982 to 1999. This paper demonstrates that strategic rollover hedging can be used as a substitute for missing long-term futures market and increase expected returns in cotton production. The estimated results reported average returns of 62.22, 65.36, 75.80, 79.09, and 69.14 cents per pound for cash sale, single-year hedge, 5, 2.5, and 1% three-year strategic rollover hedging strategies, respectively. Thus, it appears returns for... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop Production/Industries; Marketing; Risk and Uncertainty. |
| Ano: 2001 |
URL: http://purl.umn.edu/16708 |
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| Registros recuperados: 33 | |
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