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Ridgway, IL | I placed some new calves that will finishel late sep - october. I have had an order in with my futures broker to sell the neccesary fed cattle contracts at 135 october futures, but haven't been filled. The usda report comes out at 11 a.m. today, so im expecting some volatility today. Those futures are trading 134 right now... what would you guys do? Bite the bullet and get'em sold pronto? Or wait and see what the usda report says? Sell part of them before and part after? How confident are you guys in beef prices from here?
For what its worth, i am unhedged on a good portion of my feed needs as well with the thought that corn and fats will trade somewhat in the same direction.
Everyone seems so bullish beef that i talk to, of course i believe a lot of that is priced into futures market...
thanks for any input.
luke | |
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hedging - usda report morning - price ideas?
