You are hired by a group of investors to create and manage their stock portfolio. While you are confident of the firm-specific potentials in your selection of stocks for this portfolio, you are concerned with market-wide economic shocks that could cause a systemic down trend in the stock market in the next a few months. Because of this, you consider using the following futures contract to reduce the beta risk exposure of your clients portfolio:

June 2020 S&P 500 futures Contract: Each contract is on $250 times S&P 500 Index. Currently, it is trading at 3,841.

Currently, the value of the S&P 500 index is 3,847.

If your clients portfolio currently has a market value of $90,500,000 and a beta of 1.8, how many of the said futures contracts should be used to reduce the beta of the portfolio to 0.5?

Round your calculations to the nearest whole number.