Futures Market Hedging - Example Buyer of Feeder Cattle

Questions are: (1) What is a buy position called in the futures market? (2) How do you calculate the basis? (3) For our buyer example, what is their beginning position on a futures contract? (4) For our buyer example, what is the price risk? (5) For our buyer example, what is their net price (cash and futures result)? (6) For our buyer example, what was the total profit of cash money from the hedge on the 8 contracts?