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Economic Implications of Nonpar Delivery Points for the Live Cattle Futures Contract

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  • J. Richard Crow
  • John B. Riley
  • Wayne D. Purcell

Abstract

With variable intermarket price relationships between Omaha and the outlying market areas, the use of a single adjustment factor for nonpar delivery points will not significantly improve hedging opportunities. Using the Guymon (Oklahoma) point to illustrate, the need for more sophisticated adjustment procedures or consideration of separate contracts is demonstrated.

Suggested Citation

  • J. Richard Crow & John B. Riley & Wayne D. Purcell, 1972. "Economic Implications of Nonpar Delivery Points for the Live Cattle Futures Contract," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 111-115.
    • Handle: RePEc:oup:ajagec:v:54:y:1972:i:1:p:111-115.
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    File URL: http://hdl.handle.net/10.2307/1237741
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    Cited by:

    1. Bobst, Barry W., 1973. "Location Basis Variability Effects On Slaughter Cattle Hedging In The South And Southern Plains," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 5(2), pages 1-5, December.
    2. Hudson, Michael A. & Hieronymus, Thomas A. & Koontz, Stephen R., 1986. "Deliveries On The Cme Live Cattle Contract: An Economic Assessment," Illinois Agricultural Economics Staff Paper 244652, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics.

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