Price volatilities of the Japanese domestic broilers and the other commodities on the futures markets in Japan and the U.S
1998
Kaku, K. (National Inst. of Animal Industry, Kukizaki, Ibaraki (Japan))
The purpose of this study is to analyze the propriety concerning the price volatilities of the Japanese domestic broilers, if broilers would be traded on the futures markets in Japan. The main findings are three things: 1) On the U.S. futures markets, the livestock products' futures contracts have been traded and the ratio to the total volume of which all futures markets were combined was 14.11-9.41% from 1990 to 1996 (fiscal year). 2) From 1988 to 1995, the average coefficients of variation per year (%/year) on the Japanese domestic broilers were 7.10 (boneless leg meat) and 6.85 (boneless breast meat), which were lower than those of the Japanese domestic agricultural futures commodities and the CME's futures commodities concerning pork (i.e. Live Hog, Frozen Pork Bellies), but which wee higher than those of the CME's futures commodities concerning beef (i.e. Live Cattle, Feeder Cattle). 3) From 1992 to 1995, judging from the analysis of relationship between yearly coefficient of variation and yearly volume of agricultural products' trading on Japanese Futures markets, I suppose, the price volatilities of the Japanese domestic broilers boneless meat, which were both boneless leg meat and boneless breast meat, had suitability which could be traded on the broilers futures markets in Japan
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