The paper examines empirical returns from holding thirty- and ninety-day call and put positions, and the forecasting performance of implied volatility in the live and feeder cattle options markets. In both markets, implied volatility is an upwardly biased and inefficient predictor of realized...

This paper is written in the context of a development bank funding for livestock development in the arid/semi-arid areas of Kenya. A number of activities in the funding proposal will be supported by credit. They include beekeeping in small units, small scale honey refineries, a mini dairy plant...