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<blockquote data-quote="Dave" data-source="post: 1796369" data-attributes="member: 498"><p>I sure wouldn't pass the contract. I would make sure that the contract was solid and I would sell. Also the LRP value is nation wide so how does your local market compare to the nation wide market. That would be a consideration for me. A forward contract is a world of difference from LRP. To me LRP is a tool to use when you are worried about the market going south. I think it is also useful not to buy it but to look at the projected value. Where do the "experts" think the market is going. Minus the contract offer I might consider the lower end LRP. That is $12 a head to say the market is still essentially at $2 ($199.91)for 850 lb steers. I get the offers via email everyday M-F. I don't read them everyday but often enough to warch for trends. The way it is now the expected value has been growing steadily. If it were headed the other way I might jump on it. </p><p>Back in 2015 I forward contracted a semi load of bred heifers in June. I got more for them than I got in 2014. In July or August the market dropped like a rock. I still got the contract price and I was very glad I had contracted them.</p></blockquote><p></p>
[QUOTE="Dave, post: 1796369, member: 498"] I sure wouldn't pass the contract. I would make sure that the contract was solid and I would sell. Also the LRP value is nation wide so how does your local market compare to the nation wide market. That would be a consideration for me. A forward contract is a world of difference from LRP. To me LRP is a tool to use when you are worried about the market going south. I think it is also useful not to buy it but to look at the projected value. Where do the "experts" think the market is going. Minus the contract offer I might consider the lower end LRP. That is $12 a head to say the market is still essentially at $2 ($199.91)for 850 lb steers. I get the offers via email everyday M-F. I don't read them everyday but often enough to warch for trends. The way it is now the expected value has been growing steadily. If it were headed the other way I might jump on it. Back in 2015 I forward contracted a semi load of bred heifers in June. I got more for them than I got in 2014. In July or August the market dropped like a rock. I still got the contract price and I was very glad I had contracted them. [/QUOTE]
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