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Does the market price of hogs represent live weight or hanging weight?
Johncervantes
The CME Group specifications for their Lean Hogs futures specifies hog carcasses. At auction, hogs are sold by live weight - and because it's well known the average percentage of a live hog that becomes the various parts of a carcass, they can set the price at auction with reasonable certainty they'll get their money back.
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When the market price is above equilibrium price the market price will be driven up by?
A
Is stock of crops are valued at cost price or market price?
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In a traditional outdoor market, usually the regular hanging scales are used. In modern supermarkets, like Wal-Mart, etc., the more expensive electronic scales are used because they can also calculate the price for the customers.
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market price
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