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Question $8$ of $14$

no$.$ Harry runs a hot dog factory. Beef is a primary ingredient in Harry's hot dogs. Harry has been watching the cattle $($beef$)$ futures market and noticed that the $3-$month future price is $$50$ more than the spot $($current$)$ price.

Which statement is consistent with the speculation reflected in the futures price?

Speculators are manipulating the market.

The cost of cattle feed has fallen due to an unexpectedly large crop of oats.

There was a disease that killed a large portion of the mango crop last month.

There was a disease that killed a large number of buffalo $($a substitute$)$ earlier today.