Browsing by Author "Luckham, W. R."
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- An analysis of profit margin hedging strategies in the broiler industryShapiro, Neil Philip (Virginia Tech, 1976-10-15)The focus of this study on hedging strategies differs from previous studies in four major ways: l) both costs and selling price are simultaneously hedged, 2) profit margins are computed daily for up to nine months into the future, 3) hedges can be placed five to six months in advance of production, and 4) production costs and profit margins are computed on a weekly basis. Weekly RTC iced broiler production costs were estimated using weekly changes in corn and meal prices and monthly changes in other feed costs, processing costs, transportation and offal value. Weekly production costs were compared to weekly N.Y.C. wholesale broiler prices to determine profit margins. These estimated weekly profit margins served as a benchmark for evaluating alternative hedging strategies. Expected future monthly net profit margins (ENPM) using futures prices and basis estimates for corn, meal, and iced broilers were estimated daily using the production cost formula. The daily ENPM were analyzed to determine their ability to forecast actual profit margins. The ENPM's were poor predictors of actual profit margins. They demonstrated seasonal biases and substantial over and under estimation of actual margins. Forecasted and actual profit margins varied inversely, so positive profit margins were locked in, while negative profit margins were not. Five hedging strategies were developed based on the relationship discovered between expected and actual profit margins. Over the time period 1970-1975, these strategies doubled profit margins and cut profit margin variation substantially.
- The market review of peep and moo:Luckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-08-09)5 day a week base price averaging vs. 1 day a week prices for eggs
- The market review of peep and moo: base price averaging - cure for a symptom - or an illness?Luckham, W. R. (Virginia Cooperative Extension Service, 1960-10)Base price averaging may have a place in egg pricing someday after there is far greater degree of stability in the egg industry
- The market review of peep and moo: broiler condemnations-key indicator to profit or lossLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-04)Preventing condemnation of broilers through controlling disease
- The market review of peep and moo: how much do you need the broiler industry?Luckham, W. R. (Virginia Cooperative Extension Service, 1960-05)Broiler prices are very low and its up to each farmer whether they can compete
- The market review of peep and moo: let's take another look at base price averagingLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1961-03)Base price averaging to soften daily fluctuations in market discussion
- The market review of peep and moo: poultry and egg outlook for 1960Luckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1959-10-11)Forecasting economic conditions for poultry and eggs in 1960
- The market review of peep and moo: poultry and eggsLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-11-12)Forecasting egg and poultry prices for 1961
- The market review of peep and moo: quality control egg marketing programsLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1959-10)Quality control in marketing eggs
- The market review of peep and moo: the two-price system - does it work?Luckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-01)The increase in quantity of fryers sold in sale periods increased the net gain of quantity of fryer sold
- The market review of peep and moo: the Virginia poultry situation 1960-1970Luckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-02-03)Forecasting for eggs, turkeys, and broilers in Virginia
- The market review of peep and moo: turkeys, eggs, broilersLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1960-06-07)Midyear out look for broilers in 1960. Prices are low and supply is high
- The market review of peep and moo: vertical integration in the egg industry brings lower unit costsLuckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1959-08-09)Selling eggs directly to consumer or store without the middle man can decrease unit costs
- The market review of peep and moo: what about poultry and egg supply control?Luckham, W. R.; Ortego, Albert J. (Virginia Cooperative Extension Service, 1961-06)prices for poultry and eggs have been low due to oversupply. How to manage the chain so supply is controlled.