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Jenny owns 1,000 live cattle and is planning on taking the cattle to auction in 3-months. However, she is concerned that live cattle prices, which

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Jenny owns 1,000 live cattle and is planning on taking the cattle to auction in 3-months. However, she is concerned that live cattle prices, which are currently very high, could fall in the next 3-months. Assume live cattle futures contracts are each for 100 live cattle, and that a 3-month maturity contract exists. What is the best trade for Jenny to make to hedge the risk which concerns her and help her lock-in today's live cattle prices? Go long one live cattle futures contract maturing in 3-months. Go long ten live cattle futures contracts maturing in 3-months. Go short one live cattle futures contract maturing in 3-months. Go short ten live cattle futures contracts maturing in 3-months

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