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As it turns out, you were correct when you purchased 2 contracts for feeder cattle at $1.425, as the spot price on cattle rose to
As it turns out, you were correct when you purchased 2 contracts for feeder cattle at $1.425, as the spot price on cattle rose to 1.578 on the delivery date given in your contracts. You were required to put down 9% How much money did you make? What was your return on invested capital? (There are 50,000 pounds in one contract for feeder cattle.) The amount of money made, or your profit, is $. (Round to the nearest dollar.)
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