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| Hudson, Michael A.; Hughes, Matthew W.; Lins, David A.. |
| The financial performance of meat and poultry manufacturing and wholesaling firms is examined for the period from 1970 to 1986. Measures of liquidity, solvency, profitability, cash generation, and efficiency reported in the Robert Morris Associates Annual Statement Studies are used to examine relative performance across the different industries. The results suggest a similar performance in the wholesaling and manufacturing industries across the period in terms of liquidity. Profitability levels are similar for meat and poultry firms, although the poultry firms show a higher level of variability across the period. It appears that poultry firms leveraged themselves relatively more than did meat firms during the period. In terms of cash generation and... |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1988 |
URL: http://purl.umn.edu/26955 |
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| Koontz, Stephen R.; Hudson, Michael A.; Hughes, Matthew W.. |
| The efficiency of livestock futures markets continues to receive attention, particularly with regard to their forward pricing or forecasting ability. The purpose of this paper is to present a more general theory that encompasses the forward pricing concept. It is argued that futures contract prices for competitively produced nonstorable commodities, such as live cattle and live hogs, follow a rational formation process. Futures contract prices reflect expected market conditions when contracts are sufficiently close to the delivery month that the supply of the underlying commodity cannot be changed. However, prior to the period when future supplies are relatively fixed, futures contract prices should adjust to reflect the competitive equilibrium, where... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Livestock Production/Industries. |
| Ano: 1992 |
URL: http://purl.umn.edu/30384 |
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