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6 Suppose on December 1, 2023, you decide to buy 25 contracts of live cattle futures, February 2024 delivery, settle price $1.69/lb. Contract size is

6 Suppose on December 1, 2023, you decide to buy 25 contracts of live cattle futures, February 2024 delivery, settle price $1.69/lb. Contract size is 40,000 lbs. [Source: cmegroup.com] Suppose the settle price on the next trading day becomes $1.73/lb. Calculate your total profit (or loss). Show all work & calculations

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