The Efficiency of the U.S. Cotton Futures Market (1986-2006): A Test for Normal Backwardation and Identification of Economic Indicators

Victoria Salin (), Marissa Chavez and John Robinson

No 34921, 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama from Southern Agricultural Economics Association

Abstract: The cotton futures market was analyzed to determine pricing patterns and explain pricing with an equilibrium asset pricing framework. Results are consistent with the efficient market hypothesis over the long-run. Pricing trends existed within contracts and by seasons. Cotton futures do not show significant risk premiums over other financial assets.

Keywords: Marketing (search for similar items in EconPapers)
Pages: 21
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saeasm:34921

DOI: 10.22004/ag.econ.34921

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