2021 NJHA Fed Steer Shootout Quiz – 3 Name First Last Email Who is the commodities futures broker that HRC Feed Yards works with for risk management?* Shane Bedwell Chase Gleason Lee Mayo Mark Clark True or False?: Three things that are important to being successful in cattle feeding are the first cost (which is the cost to purchase), feed cost, and marketing.* True False What year was the Chicago Merchantile Exchange established?* 1881 1912 1955 2021 True or False?: Hedging is taking an opposite and equal position in the future's market from your present cash position.* True False Which of the futures contract size examples below is correct?* Live Cattle - 40,000 pounds per contract Feeder Cattle - 50,000 pounds per contract Corn - 5,000 bushels per contract All of the above are correct True or False?: The two commodity Options available for risk management are Calls and Puts.* True False True or False?: Basis is the difference between your local sale price and the futures price on the date of sale.* True False True or False?: Risk management can be very complex and it is usually wise to allow the feedyard and their commodities broker to help you with risk management for your cattle on feed.* True False Δ
