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Beresford, SD | LRP is out of the money quite a bit.......I have sold it since the inception of the concept. It is a great program and you can insure 10, 30, 60 head....or how ever many you choose and settles on cash index. If you have a couple CME contracts worth, just buy puts......talk to banker before pulling trigger. I do like The concept of LRP and it does work. I do like the window it give you to purchase.....although not as good as the first couple years. I sold 1.8 mill of premium the night BSE hit DEC 23 on fed cattle.........Was a wild night and all the feeders including myself new what we were buying at the time. One word description of that evening CRAZY!!!! However our coverage was only available 13 weeks out and market rebounded nicely and no claims were made but made for a peaceful Christmas. Good luck! | |
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