PREMIUMS/DISCOUNTS AND PREDICTIVE ABILITY OF THE SHRIMP FUTURES MARKET

Josue Martinez-Garmendia and James L. Anderson

Agricultural and Resource Economics Review, 2001, vol. 30, issue 2

Abstract: Seafood futures contracts are a novelty in the derivative markets, having shrimp as their only exponent. Unfortunately, shrimp futures contracts have suffered a disappointing start. The analyses focus on testing whether premiums/discounts for non-par deliverable shrimp size categories can eliminate cash price differentials, and whether the shrimp futures market can predict cash prices without bias. Results indicate ineffective premiums/discounts and predictive bias. These results and the momentous changes taking place in the seafood industry are contrasted to discuss the viability of seafood futures contracts.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 2001
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