Agreed. I think the key is to be consistent and not change styles, at least don't flip flop constantly. If you want to hedge a percentage using futures, stick to that, don't jack it around from one year to the next. Some cattle feeders are learning that the hard way this year I believe. They were hedged last year and saw limited profits while the guys who went unhedged saw huge profits. If they changed plans and went unhedged this year........OUCH.