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| Parcell, Joseph L.; Schroeder, Ted C.; Dhuyvetter, Kevin C.. |
| Cattle producers and beef packers need to understand basis determinants as they develop price expectations and make pricing, hedging, and forward contracting decisions. This study empirically estimated factors explaining variability in monthly fed cattle basis. The five main results regarding live cattle basis are 1) corn price is an important determinant, 2) a change in the value of the Choice-to-Select spread positively affects basis, 3) changes in the levels of captive supplies have no significant statistical or economic impact on basis 4) the June 1995 live cattle futures contract did not impact basis, and 5) both market fundamentals and seasonal components are important basis determinants. |
| Tipo: Journal Article |
Palavras-chave: Basis; Fed cattle; Cattle prices; Livestock Production/Industries; Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/15319 |
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| Brester, Gary W.; Marsh, John M.. |
| The Uruguay Round trade negotiations completed in April 1994 reduced beef trade barriers. Trade barriers for beef products have historically been significant. The Uruguay Round essentially converts many nontariff barriers (quotas) to tariffs (tariffication), includes safeguards for import surges, establishes minimum access commitments, reduces domestic subsidy supports, and provides special tariff allowances for developing countries. These provisions, commensurate with a growing world demand for animal source proteins, will likely increase U.S. fed beef exports and ground beef imports. The United States is a major world producer as well as exporter of beef. In 1996, the United States represented 35 percent of world beef production (ranked first) and 28... |
| Tipo: Working or Discussion Paper |
Palavras-chave: GATT; Beef trade; Cattle prices; Q0; International Relations/Trade; Demand and Price Analysis. |
| Ano: 1998 |
URL: http://purl.umn.edu/29169 |
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| Tonsor, Glynn T.; Dhuyvetter, Kevin C.; Mintert, James R.. |
| Successful risk management strategies for agribusiness firms based on futures and options contracts are contingent on their ability to accurately forecast basis. This research addresses three primary questions as they relate to basis forecasting accuracy: (a) What is the impact of adopting a time-to-expiration approach, as compared to the more common calendar-date approach? (b) What is the optimal number of years to include in calculations when forecasting livestock basis using historical averages? and (c) What is the effect of incorporating current basis information into a historical-average-based forecast? Results indicate that use of the time-to-expiration approach has little impact on forecast accuracy compared to using a simple calendar approach, but... |
| Tipo: Journal Article |
Palavras-chave: Basis; Basis forecasts; Cattle prices; Current information; Hedging; Livestock Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/31115 |
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| Brester, Gary W.; Marsh, John M.. |
| U.S. participation in trade liberalization agreements with Canada and Mexico through the Canada–U.S. Free Trade Agreement (CFTA) and the North American Free Trade Agreement (NAFTA) has generated intense debates in agricultural sectors about the benefits and costs of those agreements. The CFTA and NAFTA mandate that live cattle and beef trade among Canada, Mexico, and the United States be based upon competitive factors and include legal safeguards to deal with arbitrary trade restrictions. Nominal and real U.S. fed and feeder cattle prices declined throughout the 1990s. Over the same period, the total U.S. beef supply increased from 25 billion pounds to 28.5 billion pounds. Imports (both beef and beef obtained from live cattle) accounted for almost 0.5... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Cattle imports; Beef exports; Cattle prices; Demand and Price Analysis; Q0. |
| Ano: 1999 |
URL: http://purl.umn.edu/29162 |
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