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Nhtc cattle
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lacockcattleco
Posted 5/13/2022 07:22 (#9658690 - in reply to #9657822)
Subject: RE: Nhtc cattle


N.E. MT
Higher the feed goes the worse off you are. I figured you essentially need 50$ premium per 1$ of corn. Ie 8$ corn/$400 per head premium minimum. You need kill dates locked in before your calves are born and as stated the smaller number of cattle you have the harder it is to put together a contract. When COVID hit we had 1200hd contracted to kill the first weekend in February. I had them contracted on Nebraska weighted average and had puts bought at 1.22. Tyson decided they couldn’t take the cattle that weekend. My puts expired the next Friday, after talking with the buyer I assumed they would take them that weekend and since they were sold on the previous weeks market I thought we we’re safe. market crashed Tyson did not kill the cattle until May! I had a contract to fill so I couldn’t send them elsewhere but the kill date wasn’t specifically outlined in the contract. I got .98 a pound and nothing out of the 100k i spent on puts that should’ve covered myself. Beware! That hurt financially
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