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	Provedor de dados AgEcon (2) Autor Frank, Julieta (1) Garcia, Philip (1) Gomez, Miguel I. (1) Greer, Tracy D. (1) Kunda, Eugene L. (1) Manfredo, Mark R. (1) Sanders, Dwight R. (1) Mais... Palavra-chave Basis behavior (2) Cash settlement (2) Agricultural Finance (1) Corn futures (1) Ex-ante basis risk (1) Lean hogs futures contract (1) Marketing (1) New contracts (1) Regional basis (1) Mais... Tipo do documento Conference Paper or Presentation (1) Journal Article (1) Ano 2008 (1) 2003 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Cash Settlement of Lean Hog Futures Contracts Reexamined AgEcon Frank, Julieta; Gomez, Miguel I.; Kunda, Eugene L.; Garcia, Philip. In 1997 the Chicago Mercantile Exchange replaced its live hog futures contract with a cash settlement mechanism based on a Lean Hog Index. Although cash settlement was expected to increase the use of the contract as a hedging tool, producers and packers are concerned that convergence between cash and futures prices is not occurring and that the volatility of the lean hog contract basis has increased in recent years. The purpose of the paper is to reexamine cash settlement of lean hog futures contracts as a hedging tool, focusing on basis behavior and management of basis risk. We also investigate alternative hedging instruments that take into account location differences between regional cash prices and the CME lean hog index. Our results indicate that... Tipo: Conference Paper or Presentation Palavras-chave: Basis behavior; Cash settlement; Ex-ante basis risk; Lean hogs futures contract; Regional basis; Agricultural Finance. Ano: 2008 URL: http://purl.umn.edu/37611 HEDGING SPOT CORN: AN EXAMINATION OF THE MINNEAPOLIS GRAIN EXCHANGE'S CASH SETTLED CORN CONTRACT AgEcon Sanders, Dwight R.; Manfredo, Mark R.; Greer, Tracy D.. This research examines the potential basis behavior and hedging effectiveness for the Minneapolis Grain Exchange's (MGE's) cash settled corn contract. MGE futures cash settle to the National Corn Index (NCI) calculated by the Data Transmission Network (DTN). Focusing on seven regions in Illinois, the data suggest that NCI futures offer potential advantages over the existing Chicago Board of Trade (CBOT) corn futures. In particular, nearby basis variability could be reduced by 4¢ per bushel from 8.6¢ to 4.6¢ per bushel, and unconditional hedging effectiveness may increase from an average of 79% for the CBOT to 93% for the NCI. These results are statistically significant, and likely to be economically important given that agribusiness firms such as grain... Tipo: Journal Article Palavras-chave: Basis behavior; Cash settlement; Corn futures; New contracts; Marketing. Ano: 2003 URL: http://purl.umn.edu/14672 Registros recuperados: 2 Primeira ... 1 ... Última

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