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| He is wrong. Those foolish enough to believe hedging is pure and contracting evil don't have a clue. What would happen if something spooks the board and the front month drops 10$. Packers are still short cattle and they drop the bid 5 $. What do those with cattle ready to ship and hedged do ? Do they hold the front line and make packers pay what their cash bid was last week for the good of all cattle feeders ? Or do they take the 5 $ lower bid and lift their hedges and bank an extra 5$ per cwt ? Anyone who has been paying attention knows what they'll do. They'll do what they've always done and always will. They'll take of themselves as they should. Feeding cattle ain't a team sport. | |
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Box beef down-Choice-$1.21 at $381.53 select at $3.86-margin call
