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- Oct. 30: Add short-term cotton hedges; Extend meal coverage. Details below.
- Oct. 29: No changes.
- Oct. 28: No changes.
- Oct. 25: No changes.
- Oct. 24: No changes.
*Note: Check below daily to see if we recommend catch-up sales for individual markets.
Corn | |
|---|---|
| Cash-only marketers | 2024 crop: 20% sold |
| Hedgers — cash sales | 2024 crop: 20% sold |
| Hedgers — futures/options | No position. |
| Get current with advised sales. Our next sales target is the $4.25 to $4.50 range in December futures. | |
Soybeans | |
| Cash-only marketers | 2024 crop: 20% sold |
| Hedgers — cash sales | 2024 crop: 20% sold |
| Hedgers — futures/options | No position. |
| Get current with advised sales. Our next sales target is $10.75 in January soybean futures. | |
Wheat | |
| Cash-only marketers | 2024-crop: 70% forward sold. 2025-crop: 20% forward sold. |
| Hedgers — cash sales | 2024-crop: 70% forward sold. 2025-crop: 20% forward sold. |
| Hedgers — futures/options | none |
| Get current with advised sales. Our next sales target range is $6.50 to $6.75 in December SRW futures. | |
Cotton | |
| Cash-only marketers | 2024 crop: 35% forward sold for harvest delivery |
| Hedgers — cash sales | 2024 crop: 35% forward sold for harvest delivery |
| Hedgers — futures/options | 15% hedge in Dec. cotton at 69.84 cents. |
| On Oct. 30, we advised hedging 15% of 2024-crop production in December cotton futures. | |
| Livestock | |
Cattle | |
| 4th qtr. 2024 | 0% |
| 1st qtr. 2025 | 0% |
| 2nd qtr. 2025 | 0% |
| 3rd qtr. 2025 | 0% |
| Fed cattle producers should continue to carry risk in the cash market. | |
Hogs | |
| 4th qtr. 2024 | 0% |
| 1st qtr. 2025 | 0% |
| 2nd qtr. 2025 | 0% |
| 3rd qtr. 2025 | 0% |
| Carry all risk in the cash market but be prepared to add winter hedges. | |
Feed | |
| Corn | |
| 4th qtr. 2024 | 66% |
| 1st qtr. 2025 | 0% |
| 2nd qtr. 2025 | 0% |
| 3rd qtr. 2025 | 0% |
| You have all corn-for-feed needs covered in the cash market through November. | |
| Meal | |
| 4th qtr. 2024 | 100% |
| 1st qtr. 2025 | 25% |
| 2nd qtr. 2025 | 0% |
| 3rd qtr. 2025 | 0% |
| On Oct. 30, we advised covering remaining fourth quarter soymeal needs and 25% of first quarter 2025 needs in the cash market. Be prepared to extend coverage deeper into the first quarter of next year when the market signals a bottom. |