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As it turns out, you were correct when you purchased 4 contracts for feeder cattle at $1.415, as the spot price on cattle rose to
As it turns out, you were correct when you purchased 4 contracts for feeder cattle at $1.415, as the spot price on cattle rose to 1.576 on the dellvery date given in your contracts. You were required to put down 7%. How much money did you make? What was your raturn 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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