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oai:www.ideals.illinois.edu:2142/66776 2023-07-11 col_2142_5131 col_2142_13851 com_2142_5130 com_2142_684 com_2142_397

Hartmann, Peter Alexander 2014-12-13T19:23:32Z 2014-12-13T19:23:32Z 10000-01-01 1979 1979 Survey results indicate that some hog producers use the live-hog futures price as the expected cash price, as such the futures price is an important piece of information to the hog producer. This study is concerned with the quality of this information in terms of its accuracy in predicting the cash price. The objective of the study is to evaluate the forward-pricing efficiency of the live-hog futures market. In order to test this efficiency a semi-strong form test of market efficiency is applied. A market is said to be semi-strong efficient if it utilizes all publically available market information. To apply the semi-strong form test an econometric model of the live-hog sector is built. Price predictions are generated from this model which are used as a norm against which futures prices are compared. Two different measures are used to compare the prices. The results indicate that for certain periods during 1971 and 1976, the live-hog futures market did not utilize all available information or utilized it incorrectly, and it is concluded that the live-hog futures market is an inefficient market. Made available in DSpace on 2014-12-13T19:23:32Z (GMT). No. of bitstreams: 1 8011106.pdf: 3627562 bytes, checksum: 3c1f4b9a8233a4e9d1f56ac259792431 (MD5) Previous issue date: 1979 Embargo set by: Seth Robbins for item 66954 Lift date: Forever Reason: Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs Restricted to the U of I community idenfinitely during batch ingest of legacy ETDs U of I Only 97 p. Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1979. http://hdl.handle.net/2142/66776 (UMI)AAI8011106 eng Economics, Agricultural The Forward-Pricing Efficiency of The Live-Hog Futures Market text Agricultural Economics Agricultural Economics University of Illinois at Urbana-Champaign Dissertation Ph.D.