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Assume you are a catfish farmer.Feed costs (e.g. primarily corn or soybean meal) make up a substantial proportion of your overall production cost.You would like

Assume you are a catfish farmer.Feed costs (e.g. primarily corn or soybean meal) make up a substantial proportion of your overall production cost.You would like to protect yourself from adverse movements in catfish feed prices, but there is no futures market for catfish feed.What would you do?What type of hedge, if any, may be applied?

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