10. Feeds them corn and grains to fatten them up. Then sells them. Live cattle futures are on 40,000 pounds. Corn futures are based on 5,000 bushels (127 metric). We are in the month of august. The December corn contract is at $3.53 per bushel. The December cattle contract is at 1.15 per pound. It takes roughly 7,500 bushels of corn to feed 1,00 head of cattle per weight of 1300 lbs each (per week). The feed lot maintains an inventory of 34,327 steers. Explain how the feed can use futures to fully hedge put their position. Identify the long and short positions How many cattle and corn futures should be open fully hedge the position for the month of October to the nearest contract? . 10. Feeds them corn and grains to fatten them up. Then sells them. Live cattle futures are on 40,000 pounds. Corn futures are based on 5,000 bushels (127 metric). We are in the month of august. The December corn contract is at $3.53 per bushel. The December cattle contract is at 1.15 per pound. It takes roughly 7,500 bushels of corn to feed 1,00 head of cattle per weight of 1300 lbs each (per week). The feed lot maintains an inventory of 34,327 steers. Explain how the feed can use futures to fully hedge put their position. Identify the long and short positions How many cattle and corn futures should be open fully hedge the position for the month of October to the nearest contract