So you bought puts when you expected cattle prices to remain strong until Thanksgiving????? Why would you take on the additional risk of option trading if you have a ''cash'' contract? You can't hedge a sure thing. What packer do you deal with? If they are not using the futures market to hedge their buys what methodology do they use? All so called fed cattle ''forward'' contracts I have ever seen or heard of were basis contracts and the seller picked the sale date, and by extension, the ''cash'' price =/- basis depending on the actual cash price versus futures on the particular date selected to deliver cattle. In addition, negotiated grid sale premiums are set on choice/prime and yield grade averages on an individual animal basis after slaughter, there is no other way for the packer to accurately evaluate the carcass otherwise, base price is set at cattle delivery and premiums or discounts are calculated after slaughter.
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Today's Featured Article - Product Review: Black Tire Paint - by Staff. I have been fortunate in that two of my tractors have had rear tires that were in great shape when I bought the tractor. My model "H" even had the old style fronts with plenty of tread. My "L" fronts were mismatched Sears Guardsman snow tires, which I promptly tossed. Well, although these tires were in good shape as far as tread was concerned, they looked real sad. All were flat, but new tubes fixed that. In addition to years and years of scuffing and fading, they had paint splattered on
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