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Evaluating the Saskatchewan Short-Term Hog Loan Program

Author

Listed:
  • Donald Lien
  • David A. Hennessy

Abstract

The Saskatchewan short-term hog loan program of 2002 provided a non-market 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.

Suggested Citation

  • Donald Lien & David A. Hennessy, 2005. "Evaluating the Saskatchewan Short-Term Hog Loan Program," Food and Agricultural Policy Research Institute (FAPRI) Publications 05-wp385, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
  • Handle: RePEc:ias:fpaper:05-wp385
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    References listed on IDEAS

    as
    1. Renyuan Shao & Brian Roe, 2003. "The design and pricing of fixed‐ and moving‐window contracts: An application of Asian‐Basket option pricing methods to the hog‐finishing sector," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 23(11), pages 1047-1073, November.
    2. David A. Hennessy & Donald Lien, 2003. "Ledger Provision in Hog Marketing Contracts," Center for Agricultural and Rural Development (CARD) Publications 03-wp336, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    3. James Unterschultz & Frank Novak & Donald Bresee & Stephen Koontz, 1998. "Design, pricing, and returns of short‐term hog marketing window contracts," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 18(6), pages 723-742, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    agricultural policy; derivative contract; domestic support; international trade agreements.;

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • G3 - Financial Economics - - Corporate Finance and Governance

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