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| We've used it now for 2 years, once on feeders, and 2 times on a finishing pen. Advantages are you can insure a given number of animals, not locked into contracts of fixed pounds. We are set up to the web site and check it daily to see what the premiums may be,(changes daily with the market) and if the premiums aren't to high with our marketing floor we will buy. A friend who has been finishing calves a long time and who hedges occasionally called it an expensive put. But if your like me and don't watch the options everyday and just want a "sleep factor" it's an easy way to set up a floor on a pen. It seems the 13 week protection is the cheapest, but not always. We did have a nice check from our 900 lb feeders on Jan. 2 settlement.
Edited by jackND 2/3/2008 08:27
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Livestock Risk Protection (LRP)
