Procurement Price Relationships for Fed Cattle and Hogs: Importance of the Cash Market in Price Discovery
作者： Yoonsuk Lee , Clement E. Ward , B. Wade Brorsen
DOI: 10.1002/AGR.21288
关键词:
摘要: Reduced reliance on cash markets for fed cattle and hogs raises questions about the role of prices in price discovery. Weekly data from mandatory reports were used to determine whether market cointegrated with exhibited Granger causality other procurement prices. Cash all but one hog series over 2001–2010 period. cause bidirectional was found some not cases. Results three 3-year subperiods showed decline cointegration hogs. The remains important discovery continuing thinness, especially hogs, regarding viability future.
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