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The 'New' Live Cattle Futures Contract: Basis Issues

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  • Murphy, Rob
  • Boris, Keith

Abstract

Practical issues for live cattle basis calculation are explored. Significant differences were found when cash volume weights and mean futures prices were used in basis calculations rather than equal weighting and settlement futures prices. Using settlement futures prices rather than mean futures prices is probably acceptable for studies considering basis over a long period. Changes to the live cattle contract in June 1995 have caused the basis to become more negative. Day-to-day variability in the basis has changed little under the new contract specifications, but month-to-month variability has been reduced significantly.

Suggested Citation

Handle: RePEc:ags:nc8191:285695
DOI: 10.22004/ag.econ.285695
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