We examine the young dairy futures market as a risk management tool. Using New York Board of Trade (NYBOT) data, we find that the BFP futures market is efficient and may potentially be a useful hedging tool. However, we also find that competition from Chicago Mercantile Exchange (CME) contracts has significant detrimental effects on the NYBOT dairy futures contracts. As a result NYBOT dairy futures contracts are likely to dry up.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1999 Annual meeting, August 8-11, Nashville, TN with number
21709.
Length: Date of creation: 1999 Date of revision: Handle: RePEc:ags:aaea99:21709
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