This research examines the lead-lag relationships between futures prices, prices from a cash forward market, and spot prices for two forest product markets. Results suggest that for 2x4 lumber, the forward market provides some level of price discovery, but futures play a dominant price discovery role for oriented strand board.Marketing,

Manfredo, Mark R.

Sanders, Dwight R.

English

Research Papers in Economics

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Contribution to Price Discovery in the Forest Product Market: Futures, Forwards, and Spot Markets

Contribution to Price Discovery in the Forest Product Market: Futures, Forwards, and Spot Markets

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Research Papers in Economics