I- A gold producers wants to hedge his losses attributable to a fall in the price of gold for his current gold inventory. II- A cattle farmer wants to hedge his exposure to changes in the price of…

I- A gold producers wants to hedge his losses attributable to a fall in the price of gold for his current gold inventory. II- A cattle farmer wants to hedge his exposure to changes in the price of his livestock These are the examples of __________ who need to manage their exposure to fluctuations in the prices of their commodities.