Cross-hedging wild salmon prices
研究野生鲑鱼价格是否与Fish Pool鲑鱼期货合约相关，从而可用于交叉对冲，为野生鲑鱼渔民和买家提供风险管理工具。
A number of studies have documented that there is a global market for salmon, in which wild and farmed salmon have a common price determination process. Recent studies report that Norwegian farmed salmon spot prices are also highly correlated with the Fish Pool salmon future contract price, indicating that the futures market can be an important risk management tool, as producers and buyers can hedge price risk. Here, we investigate whether the wild salmon prices can be cross hedged against the Fish Pool salmon future contract, by testing whether wild salmon prices are also correlated with the Fish Pool salmon future contracts. If so, the Fish Pool future contracts can be used as a risk management tool for fishers and buyers of wild salmon. We find that this is the case, providing an additional link between wild and farmed salmon specifically, and between fisheries and aquaculture generally.