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Consider the situation in problem 1 above in which Jimmy Dean Meat Products management is attempting to hedge the cost of their beef purchases. Suppose

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Consider the situation in problem 1 above in which Jimmy Dean Meat Products management is attempting to hedge the cost of their beef purchases. Suppose they need to hedge a purchase of 160000 pounds. If a simple ("nave") one-to-one hedge were used, how many contracts would be traded? Report your answer rounded to the nearest full contract

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