Put together a Microsoft Excel worksheet like the one shown in the e-textbook. with a screen shot. Find the futures prices on the Chicago Mercantile Exchange website for futures markets which are about four months ahead (i.e. as close to four months ahead as possible since there are not necessarily futures contracts for every month of the year). These include the futures contracts for lean hogs, com, soymeal, and currency. We’re assuming that we can defer paying for the corn and soybeans until four months ahead and that we’ll get paid for the hogs right away upon selling them then. Calculate the current hog margin over feed.

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