Research on the Linkage Between Rapeseed Meal Futures and Stock Prices in the Aquaculture Industry
Rapeseed meal is an important feed for aquaculture.The changes in rapeseed meal prices will have a significant impact on the costs of the aquaculture industry,which in turn affects the prices of aquatic products and the stock prices of related listed companies.This article selects the daily settlement price data of rapeseed meal futures on the Zhengzhou Commodity Exchange from July 1,2018 to July 1,2023,and the daily closing price of the aquaculture industry stock index to establish a VAR model.Through ADF unit root test,Johansen cointegration test,and Granger causality test,find that there is a one-way mean spillover effect of rapeseed meal futures prices on the stock index of the aquaculture industry,which plays a guiding role in its price changes.Aquaculture enterprises can reasonably use rapeseed meal futures for hedging,avoid operating cost risks caused by price changes,and enhance the risk preven-tion ability of industrial and supply chains in response to price fluctuations.
NETL
NSTL
万方数据
维普
