1600. In short, the answer is: the profit and loss of a point of fluctuation of live pig futures = trading unit × minimum change price = 16 ton/hand× 5 yuan/ton = 80 yuan. The fluctuation "one point" mentioned here refers to the disk gap, that is, the price fluctuation is a minimum change price. The above formula is applicable to all futures products, but the trading unit and minimum price change of each futures product are different, which is clearly stipulated in the contract text at the time of listing. The live pig futures of Dashang Institute have been listed. According to market news, the margin and handling fee are high, and it is not easy for retail investors to participate. The first-hand preparation needs 100000, and the first-hand handling fee is about100. The transaction cost of that day is about 200 yuan.

1. Novices can open a futures account before they can participate in futures trading. Pay attention to the rules of live pig futures trading: each lot of live pig futures is 16 tons, which is equivalent to one hand making 16 tons of live pigs, which is equivalent to a spot trailer, so the contract value is relatively large, about 400,000 yuan per lot, calculated according to the minimum exchange margin 15%. For the pig futures of the big trading house, the transaction fee is one ten thousandth of the contract turnover, and the transaction within one day is four thousandths. The basic fee is stipulated by the exchange. All futures companies have to add commission to this basic fee, and then your actual transaction fee. The futures price of the live pig 2 109 futures contract is 30,000 yuan/ton, and the live pig trading unit 16 ton/lot. Futures account handling fee for first-hand pig = 1 hand * 30,000 yuan/ton * 16 ton/hand *0.0002=96 yuan. In the case of low commission of futures companies, the overnight round-trip fee is around 200 yuan, so the minimum fluctuation of live pig price is 1 time, and five points represent 80 yuan. You have to change it at least three times, 15 points before you can return it. The handling fee for intraday trading around 400 yuan fluctuates at least 5 times, and 25 points can be recovered.

2. According to the trading rules of Dalian Commodity Exchange and other relevant regulations, the benchmark prices of live pig futures contracts are now announced as follows: LH2 109 contract 30680 yuan/ton, LH211contract 29680 yuan/ton, LH220 1 contract 2880 yuan/ton. The margin level of hedging transaction is 8% of the contract value, and the margin level of speculative transaction is 15% of the contract value. How much is it to make first-hand pig futures according to the latest notice of the exchange? Taking LH2 109 as an example, speculation: 1 live pig futures = 30,680 yuan/ton * 16 ton *15% = 73,632 yuan; Hedging: 1 live pig futures = 30,680 yuan/ton * 16 ton * 8% = 39,270 yuan.