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Forward Pricing
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Estimated Basis Levels
Ontario Pork Marketing Division
Estimated Basis Values
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Estimating Basis
:
Basis is the difference between the local cash price and the futures price on the delivery date and is calculated as follows:
Basis = Cash Price – Forward Price Contract Closing Price (on date of delivery)
At the time of delivery producers are paid their forward contracted price plus or minus the basis adjustment.
The above estimated basis values are calculated using the daily 100% formula price as the cash value.