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Cross-Hedging Fishmeal: Exploring Corn and Soybean Meal Futures Contracts

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  • Parcell, Joseph L.
  • Boessen, Christian R.
  • Altman, Ira J.
  • Sanders, Dwight R.
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    Abstract

    During 2006 the fishmeal price nearly doubled from $500MT to over $900MT. The objective of this research is to determine the optimal cross-hedge ratio between fishmeal and soybean meal and corn, and corresponding hedging weight between corn and soybean. Results indicate all hedging weight should be placed on the corn futures contract. This is an interesting result since prior fishmeal cross-hedging research has not analyzed the corn futures contract as a risk management mechanism.

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    Bibliographic Info

    Paper provided by Southern Agricultural Economics Association in its series 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas with number 6763.

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    Date of creation: 2008
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    Handle: RePEc:ags:saeaed:6763

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    Keywords: Crop Production/Industries; Risk and Uncertainty;

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    1. Parcell, Joseph L., 2003. "An Empirical Analysis of the Demand for Wholesale Pork Primals: Seasonality and Structural Change," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(02), August.
    2. Sanders, Dwight R. & Manfredo, Mark R., 2004. "Comparing Hedging Effectiveness: An Application of the Encompassing Principle," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(01), April.
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