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<blockquote data-quote="Banker729" data-source="post: 1151525" data-attributes="member: 22393"><p>I just bought a LRP policy with a coverage price of $2.135/LB on 500# steers for $0.013/LB, end date of Novemeber 4, 2014. So essentially we are "guaranteed" $2.12 if we market our calves on 11/4/14. Hopefully LRP doesn't pay us and the market does! Like others said, I am not trying to lock in a huge profit but it sure is helping me sleep at night knowing that I have eliminated most of the "catastrophic outside risk" for pretty cheap. I don't think many of us are worried about a supply and demand price change in the short term, but a catostrophic or "black swan" price drop is only a newscast away at any given time. Now it is just a matter of keeping them alive and healthy and we will have pretty good year!</p></blockquote><p></p>
[QUOTE="Banker729, post: 1151525, member: 22393"] I just bought a LRP policy with a coverage price of $2.135/LB on 500# steers for $0.013/LB, end date of Novemeber 4, 2014. So essentially we are "guaranteed" $2.12 if we market our calves on 11/4/14. Hopefully LRP doesn't pay us and the market does! Like others said, I am not trying to lock in a huge profit but it sure is helping me sleep at night knowing that I have eliminated most of the "catastrophic outside risk" for pretty cheap. I don't think many of us are worried about a supply and demand price change in the short term, but a catostrophic or "black swan" price drop is only a newscast away at any given time. Now it is just a matter of keeping them alive and healthy and we will have pretty good year! [/QUOTE]
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