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Hedging and income stability: concepts, implications, and an example [Egg market]
Ist Teil von
American journal of agricultural economics, 1975-08, Vol.57 (3), p.410-419
Ort / Verlag
Menasha, Wis: Oxford University Press
Erscheinungsjahr
1975
Link zum Volltext
Quelle
Wiley-Blackwell Journals
Beschreibungen/Notizen
The variability in prices often of concern to producers is that which occurs after a production decision has been made but before the commodity can be marketed. A portfolio-type analysis is used to formalize this problem and describe the role futures markets can perform in facilitating the management of this risk. Data from the egg market are used to illustrate hedging opportunities for an egg producer. The results show that hedging a substantial percentage of expected production can significantly reduce a producer's exposure to the risk. Additionally, a total hedging scheme performed nearly as well as an optimal scheme.