The futures market to protect pork prices: myth or reality ?

First introduced in the USA in 1865 for trading in wheat, futures markets make it possible to protect many agriculturalcommodities against price fluctuations. Futures markets do not trade in physical volumes but in promises: the buyer promisesto buy a given quantity at a given date and at a forward price, and the seller promises to sell that quantity for that price on that same date. Losses on the physical commodities market are normally offset by gains on the futures market, and vice-versa. Wide-ranging training initiatives need to be provided for the producers concerned. Collaborators with advanced specialist knowledge of these tools, and who can correctly factor in their customers’ needs, remain an essential requirement.