for the producers that did not listen to me. Feeling sorry for them doesn't last very long when I remind them that I started warning them back in May that the 9 year Death Cycle low was going to begin in the next 2-3 months, Then in early June I was telling them to start their first hedges @ the 71-72 area. A week later I was begging them to at least do something @ 74.00. Just before the 4th of July was my last attempt to try and scare them into at least hedging 10% for their own psychological welfare. The funny thing was that very few believed me that we have had record production for over a year. I always got the response-----the selloff never last very long and price won't get that bad.

Now they are starting to cuss at me, at the markets, at the packers, and anything else they can lay blame on. I just don't understand, a few of these guys I've worked with for some time and they continue to expect the market and the packers to make the announcement that price is going down. I've gone to great lengths to educate and show the cyclical predictability of the 9 year cycle low. They say they get it but when it comes time to think OUTSIDE the BOX they refuse. Some people's kids, you buy em books and all they do is tear out the pages.

Oh well, the fault does not lay on my shoulders, I tried and tried and tried. Now I have to focus on the FEW GOOD MEN that have seen their bank accounts swell the last couple weeks. We added more short Dec yesterday since we only had about 40% coverage for that month. The hard part is keeping that swelled bank account together. When Oct becomes front month, the trade may decide it doesn't deserve to be that far down. The hog market has no problem making a $10 reversal move. The Question is------where does it start from?