My family is also in cotton! If so, it also depends on the spot price of cotton. If the futures and spot prices are different, there is no hedging.

100t = 25,000 yuan for 20 lots, selling price is 30,000 yuan, loss: 5000 * 20 * 5 = 500,000 yuan.

The price ranges from 25,000 yuan to 20,000 yuan, and the profit is 5000 * 20 * 5 = 500,000 yuan.