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EVALUATING STRUCTURAL BREAKS AND THE DRIVERS OF STRUCTURAL CHANGE IN LIVE CATTLE BASIS

Citation

Wilder, Brett. (2019-05). EVALUATING STRUCTURAL BREAKS AND THE DRIVERS OF STRUCTURAL CHANGE IN LIVE CATTLE BASIS. Theses and Dissertations Collection, University of Idaho Library Digital Collections. https://www.lib.uidaho.edu/digital/etd/items/wilder_idaho_0089n_11490.html

Title:
EVALUATING STRUCTURAL BREAKS AND THE DRIVERS OF STRUCTURAL CHANGE IN LIVE CATTLE BASIS
Author:
Wilder, Brett
Date:
2019-05
Keywords:
Basis Cattle Estimation Futures Live Cattle Structural Break
Program:
Agricultural Economics and Rural Sociology (Applied Economics)
Subject Category:
Agriculture economics
Abstract:

Live cattle basis witnessed incredible volatility in recent years leading to questions of structural change and the possibility of decreased hedging effectiveness. If fundamental drivers of live cattle cash and futures prices have changed, cattle feeders and beef packers alike may need to re-evaluate their business, marketing, and hedging plans. Structural breaks can be identified and confirmed using statistical methods while the drivers of those structural breaks can be evaluated using forecast models. This research finds evidence that both live cattle basis and live cattle basis variability witnessed structural change near the beginning of 2014. Furthermore, results suggest that changes to the live cattle supply chain including regional cash market thinness and a trend towards higher quality beef are among the most important factors driving structural change.

Description:
masters, M.S., Agricultural Economics and Rural Sociology (Applied Economics) -- University of Idaho - College of Graduate Studies, 2019-05
Major Professor:
Johnson, Aaron
Committee:
Tejeda, Hernan; McIntosh, Chris; Fortenbery, Randy
Defense Date:
2019-05
Identifier:
Wilder_idaho_0089N_11490
Type:
Text
Format Original:
PDF
Format:
application/pdf

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