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Price Discovery in the U.S. Fed Cattle Market

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  • Joseph, Kishore
  • Garcia, Philip

Abstract

We study price discovery in the U.S. fed cattle market, examining the interaction among weekly live cattle futures, negotiated cash fed cattle, and boxed beef cutout prices. Extensive testing and innovation accounting based on directed acyclic graphs of error-correction resid- uals indicates that the futures price continues as the dominant source of information in the fed cattle market. While the cash cattle price has a strong predictive in_x000D_uence on the boxed beef price, the boxed beef price plays only a marginal role in price discovery.

Suggested Citation

  • Joseph, Kishore & Garcia, Philip, 2013. "Price Discovery in the U.S. Fed Cattle Market," 2013 Conference, April 22-23, 2013, St. Louis, Missouri 285808, NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    • Handle: RePEc:ags:n13413:285808
    DOI: 10.22004/ag.econ.285808
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