Author: Chicago Mercantile Exchange
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 15
Book Description
Futures Trading in Frozen Pork Bellies
Author: Chicago Mercantile Exchange
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 15
Book Description
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 15
Book Description
Futures Trading in Frozen Pork Bellies
Author: Chicago Mercantile Exchange
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 16
Book Description
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 16
Book Description
The Frozen Pork Bellies Futures Market
Author: Raymond M. Leuthold
Publisher:
ISBN:
Category : Commodity futures
Languages : en
Pages : 148
Book Description
Publisher:
ISBN:
Category : Commodity futures
Languages : en
Pages : 148
Book Description
Trading in Frozen Pork Belly Futures
Author: United States. Commodity Exchange Authority
Publisher:
ISBN:
Category : Swine
Languages : en
Pages : 24
Book Description
Publisher:
ISBN:
Category : Swine
Languages : en
Pages : 24
Book Description
An Economic Analysis of the Futures Market for Pork Bellies
Author: Mark J. Powers
Publisher:
ISBN:
Category : Commodity exchanges
Languages : en
Pages : 450
Book Description
Publisher:
ISBN:
Category : Commodity exchanges
Languages : en
Pages : 450
Book Description
Commodity Futures Market Reaction to Anticipated Public Reports
Author: Li Yang
Publisher:
ISBN:
Category :
Languages : en
Pages : 168
Book Description
This study investigates the reaction of the frozen pork bellies futures market to the release of inventory information. Knight-Ridder releases their analysts' forecasts of the USDA estimate two days prior to the estimate provided by the USDA. A rational expectations model is developed to study how futures markets react to the information release. The model provides a direct link between analysts' forecasts. the USDA estimate, traders' beliefs of the frozen pork bellies inventories in storage, unanticipated information contained in the USDA report, and price movements. It differs from previous models used in commodity markets as price reactions depend on both the information content of the difference between the USDA estimate and the average of the analysts' forecasts, and the dispersion among the analysts' forecasts. It is shown theoretically that previous studies of price reaction based solely on the information content of the difference between the USDA estimate and the average of analysts' forecasts may induce measurement error when the magnitude of the disagreement among analysts is large and the performance of the average of forecasts is poor. Empirical results show that the USDA Cold Storage report contributes additional information to the price discovery process. However, the evidence supporting the importance of incorporating the dispersion of analysts' forecasts is mixed. When analysts' forecasts are an unbiased estimate of the USDA report and the disagreement among analysts is small, measurement error is small.
Publisher:
ISBN:
Category :
Languages : en
Pages : 168
Book Description
This study investigates the reaction of the frozen pork bellies futures market to the release of inventory information. Knight-Ridder releases their analysts' forecasts of the USDA estimate two days prior to the estimate provided by the USDA. A rational expectations model is developed to study how futures markets react to the information release. The model provides a direct link between analysts' forecasts. the USDA estimate, traders' beliefs of the frozen pork bellies inventories in storage, unanticipated information contained in the USDA report, and price movements. It differs from previous models used in commodity markets as price reactions depend on both the information content of the difference between the USDA estimate and the average of the analysts' forecasts, and the dispersion among the analysts' forecasts. It is shown theoretically that previous studies of price reaction based solely on the information content of the difference between the USDA estimate and the average of analysts' forecasts may induce measurement error when the magnitude of the disagreement among analysts is large and the performance of the average of forecasts is poor. Empirical results show that the USDA Cold Storage report contributes additional information to the price discovery process. However, the evidence supporting the importance of incorporating the dispersion of analysts' forecasts is mixed. When analysts' forecasts are an unbiased estimate of the USDA report and the disagreement among analysts is small, measurement error is small.
The Returns and Forecasting Ability of Large Traders in the Frozen Pork Bellies Futures Market
Author: Raymond M. Leuthold
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Using settlement prices and 9 years of daily commitments for large reporting traders in the frozen pork bellies futures market, we find that these traders generate significant profits and the distribution of trader returns over time is not random. Further analysis finds that a subset of large elite traders possesses significant forecasting ability, indicating that they not only are able to consistently anticipate the direction of price changes but are also on the right side of the market when large price changes occur. Hence, certain futures market traders accumulate trading experience and knowledge, permitting them to accrue considerable wealth.
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Using settlement prices and 9 years of daily commitments for large reporting traders in the frozen pork bellies futures market, we find that these traders generate significant profits and the distribution of trader returns over time is not random. Further analysis finds that a subset of large elite traders possesses significant forecasting ability, indicating that they not only are able to consistently anticipate the direction of price changes but are also on the right side of the market when large price changes occur. Hence, certain futures market traders accumulate trading experience and knowledge, permitting them to accrue considerable wealth.
Speculative Error in the Frozen Pork Belly Futures Market
Futures Trading in Fresh Shell Eggs
Author: R. Britt Lenz
Publisher:
ISBN:
Category : Egg trade
Languages : en
Pages : 64
Book Description
Publisher:
ISBN:
Category : Egg trade
Languages : en
Pages : 64
Book Description
The Frozen Pork Belly Futures Market
Author: Mark J. Powers
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 32
Book Description
Publisher:
ISBN:
Category : Pork industry and trade
Languages : en
Pages : 32
Book Description