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Cash Flow Effects of the Saskatchewan Short‐Term Hog Loan Program

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  • Donald Lien
  • David A. Hennessy

Abstract

The Saskatchewan short‐term hog loan program of 2002 provided a nonmarket credit‐line to participating hog producers. The repayment conditions for cash advances committed to by the provincial government depend on later hog prices, and so the program has derivative contract attributes. We model the contracts and use an estimated spot price stochastic process to establish summary statistics for producer benefits from the program. Le programme de prêt à court terme que la Saskatchewan a offert à ses producteurs de porcs en 2002 comprenait une ligne de crédit non marchande. Comme les modalités de remboursement des avances de fonds engagées par le gouvernement provincial dépendent du prix futur du porc, ce programme possède les caractéristiques d'un instrument dérivé. Nous avons modélisé les contrats et nous avons utilisé un processus stochastique pour estimer le prix au comptant en vue d'établir des statistiques sommaires sur les avantages que les producteurs retirent de ce programme.

Suggested Citation

  • Donald Lien & David A. Hennessy, 2007. "Cash Flow Effects of the Saskatchewan Short‐Term Hog Loan Program," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 55(1), pages 83-96, March.
    • Handle: RePEc:bla:canjag:v:55:y:2007:i:1:p:83-96
    DOI: 10.1111/j.1744-7976.2007.00081.x
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    Cited by:

    1. Chang, Chia-Lin & Huang, Biing-Wen & Chen, Meng-Gu & McAleer, Michael, 2011. "Modelling the asymmetric volatility in hog prices in Taiwan: The impact of joining the WTO," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 81(7), pages 1491-1506.
    2. Chang, C-L. & Huang, B-W. & Chen, M-G., 2010. "Modelling the Asymmetric Volatility in Hog Prices in Taiwan," Econometric Institute Research Papers EI 2010-46, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.

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