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Suppose on 11/15/2023 the Feb 2024 live cattle basis in Omaha, Nebraska is 0.85 cents/b. This means that: cash is greater than futures, with no

Suppose on 11/15/2023 the Feb 2024 live cattle basis in Omaha, Nebraska is 0.85 cents/b. This means that:

cash is greater than futures, with no storage relationship driving the basis.

cash is greater than futures by 0.85 cents/lb, representing an inverted market and little incentive to store.

cash is less than futures by 0.85 cents/lb, representing a positive carry market and an incentive to store.

futures is greater than cash, with no storage relationship driving the basis

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