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okay good morning remind you theres a quiz on Friday and it will cover the material through the end of todays lecture okay um and I hope to finish our discussion of hedging by Friday but well see how it goes and the quiz will be at the end of lecture so we finished off on Monday with a very simple example of hedging Id like to pick up on that and basically today well run through additional examples of hedging I have an example from the cattle market and uh then Ill do some from the financial Futures remind you that the basic setup is always the same where I want to see the date the cash price the basis and the Futures and whether you go short or long so this example was uh one of an individual that was long in the cash market so if youre long in a cash Market you always sell Futures if youre short in cash you always buy Futures to hedge you do the opposite thats what hedging is you take the opposite position which try attempts to neutralize the effect of any price movement bec