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Abstract

The purpose of this publication is to provide information on the relationship between cash prices for live hogs at selected markets in North Carolina and live hog fu .. tures prices at the Chicago Mercantile Exchange (CME). Basisis generally calculated as local cash price minus the futures price on a given date. Basis information isused by hog producers to project local cash price on a delivery date in the future and to calculate expected net returns to hog hedging transactions. Examples of how to use basis information are provided below. Basis estimates for live hogs are computed using weekly cash and futures prices. The cash prices are taken from N. C. Livestock Market Report published weekly by the Market News Section, Division of Marketing, North Carolina Department of Agriculture. Futures prices are Thursday closing prices taken from N. C. Livestock Market Report, The Wall Street Journal and the annual Yearbook of the Chicago Mercantile Exchange

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