Research@Mines Archive:
June, 2022

Mines Students Design Software to Predict the Cattle Market with 29-Year-Old Computer Program Envisioned by Rancher

A group of Mines computer science majors, Jordan Baumeister, Dustin Reff and Trevor Borman have joined with a university alumni to build a new software program that helps predict the cattle futures market.

For many years, Wall Street investors have used sophisticated software like artificial neural networks to gain a trading advantage. These software tools use a range of data inputs and historical trends to predict stock prices.

But the cattle market is a different beast. “The software tools used to predict the stock market fail miserably if you apply them to cattle futures,” says Jordan Baumeister. She worked the past year with fellow computer science majors Trevor Borman and Dustin Reff to build models that could better predict the cattle and corn markets in an effort to offer commodity traders an edge. The team used artificial intelligence and data science to create mathematical models to predict future market trends and provide a comparison for anomalies, like droughts or floods, using historical data analytics. 

“Our overall goal was to optimize the risk versus reward tradeoff that shows up when you exchange these contracts on the futures market,” says Reff. 

To achieve this goal, the students had to rely on decades of previous work.

A long history of success

In 1993, Todd Gagne was a student at Mines developing his own software programs when he crossed paths with Ron Ragsdale, who ranched on 55,000 acres of rolling prairie near the confluence of the Belle Fourche and Cheyenne Rivers.

Ragsdale came to ranching following a successful career in law along with a ...

Last Edited 6/14/2022 07:32:38 PM [Comments (0)]

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