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<blockquote data-quote="Craig-TX" data-source="post: 59335" data-attributes="member: 39"><p>I didn't ask how futures markets work or about the CME. I think most of us here understand that. I asked you to explain your advice that <em>producers</em> write (and deliver on) options against <em>their own calf crop on their own places</em>. </p><p></p><p>If you borrow money on cattle the bank does not hedge their risk with options. They file a lien on your livestock with a UCC Financing Statement and will mitigate their risk by only loaning a percentage of the value of stock or other collateral.</p><p></p><p>Craig-TX</p></blockquote><p></p>
[QUOTE="Craig-TX, post: 59335, member: 39"] I didn’t ask how futures markets work or about the CME. I think most of us here understand that. I asked you to explain your advice that [i]producers[/i] write (and deliver on) options against [i]their own calf crop on their own places[/i]. If you borrow money on cattle the bank does not hedge their risk with options. They file a lien on your livestock with a UCC Financing Statement and will mitigate their risk by only loaning a percentage of the value of stock or other collateral. Craig-TX [/QUOTE]
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