COLUMBUS, Ohio — “This little piggy went to market” was a popular nursery rhyme 50 years ago; today, it’s a hands-on attraction at state and county fairs that teaches youth about agricultural commodities and the economics of raising and selling livestock.

Commodity Carnival was created by Ohio State University professors Paul Kuber and Bob Horton. This game allows local 4-H members to educate fairgoers about the risks farmers confront daily in order to bring food to market. The games are sponsored jointly by 4-H, the nation’s largest youth development organization, and CME Group, which oversees the Chicago Board of Trade and helps farmers and other businesses manage risk around the world.

“The agriculture market is so critical to the economy that educating youth about commodities’ role is vital,” said Donald T. Floyd Jr., strategic advisor and chair of the National 4-H Council.

“Fairs have been mainstays of America’s heartland since the 1840s, and our CME Group heritage in commodities markets goes back almost as far,” said CME Executive Chair and President Terry Duffy. “We are pleased to return to these fairs with our Commodity Carnival game to teach young agriculture participants the importance of risk management.”

Carnival participants load their “pig” (actually, a plastic egg) with inputs they can customize – from hog food in the form of corn kernels and soybeans, to paper pieces representing investments in caring for and transporting the animal. When ready for market, the “pig” is weighed to determine the cost per cwt. to raise it.

At the adjoining Pig-Linko board, participants send their pigs down the peg board while trying to navigate risk factors such as weather or regulations that can impact the animal’s sale price. If the participant earns a profit, they win a silver rosette ribbon for bringing home the bacon.

“With 4-H, we are able to reach young audiences and provide them the tools to kick-start their thinking about food production and the risks that farmers and ranchers face,” Duffy explained. “This is knowledge that will become crucial as global demand for food increases in the coming decades.”

Beyond the fairgrounds and throughout the year, the Commodity Carnival mobile app, “Risk Ranch,” enables people of all ages to try their hand at agricultural risk management from their mobile devices, as well as online.

“We are constantly seeking new ways to empower and educate today’s young people,” said Jennifer Sirangelo, president and CEO of the National 4-H Council. “The Commodity Carnival has proved an invaluable tool for expanding the agriculture and economic education of both rural and urban youth, and the game teaches elements of business that are applicable beyond farming.

“Our partnership with CME Group allows us a unique opportunity to prepare the next generation of farmers and business leaders for the complexities of the marketplace.”

Commodity Carnival will travel to nine states during fair season this year: Michigan, Ohio, Texas, Illinois, Minnesota, Iowa, South Dakota, Nebraska and Wisconsin. Fairgoers can go online to www.cmegroup.com/4-Hcarnival to find participating fairs this summer.

The “Risk Ranch” app is available all year long in any location and can be downloaded from the Google Play or iTunes stores, or accessed from www.cmegroup.com/4-Hcarnival