Informational Content of Government Hogs and Pigs Reports

Colin Carter and Carl A. Galopin

American Journal of Agricultural Economics, 1993, vol. 75, issue 3, 711-718

Abstract: We examine the value of the informational content of quarterly government reports which estimate forthcoming supplies of hogs and pigs. It is assumed that a hypothetical futures trader obtains the government reports one day in advance of their release. A futures market trading rule is established which uses early access to the reports together with a priori expectations of the reports' contents. We find the market information in the government reports is of little or no value to a futures trader in advance of the release date because this information is already incorporated in the futures price.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:75:y:1993:i:3:p:711-718.

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