A RECURSIVE MODEL FOR FORECASTING QUARTERLY AND MONTHLY U.S. HOG PRICES
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Institutions such as the U.S. Department of Agriculture, universities and private firms have published regularly current and outlook information to the participants of the livestock market. Information about short-run future tendencies in the market place is a necessary tool used in the decision making process, by hog producers, wholesalers, retailers and others operating in the hog and pork markets. The forecasting techniques which have been used range from very sophisticated ones to simple "rules of thumb" or purely guesses. Many forecasters use their own procedures and techniques developed after long experience in operating in the market, and they only get their results after much "pencil and paper" work, and frequently the techniques used are known only to the forecasters.