understatement, DH. Now that we are starting to get our hedges on after over a month of telling/begging them to wait for this time frame and price-------they now don't think it's a very good idea. I'm used to it but it's still the biggest frustration I face.

I was just noticing on the weekly chart that we are in the same 68.00-72.87 area as last year when April took over as front month. This year the Feb contract was the driver for that area and April tagged along. Last year, the March washout was a bit over $6. We had record production also but it was not a well known or advertised issue. The cattle market was also higher so there was added reason for a normal 5-6 dollar March Washout. This year all of the meats are facing higher production and there are also potential political/economic bombshells to add fuel to record production that could get hit with disappearing demand.

The way I see it------the main base support on the weekly, is the 4 weeks of congested lows @ 62.00 from mid Dec to early Jan. The Downtrend Line on the weekly coming down off the 2014 high and meeting the June high from last year, is now about to get a price smack at the 72.80-73.00 area. I have multiple potential Brick Wall lines in this area. It has been on my map of potential destinations for some time. Since this area stopped it last year, I have no other choice but to believe it will be a stopper again this year. The Bullish Fever might get some overkill to push April to 74.00 but I'm not having my hedgers wait for it-------we are now hedged for 25% of production, orders waiting @ 72.70-72.90 to go to 50% of production, and the last layer to go to 75% is waiting at the 73.20-73.40 area.

I have not decided on a target for myself yet, mostly because I prefer to wait for a good strike on my south lines that allows me to keep one or two that the market never forces me to part with until it tries to define the bottom. that way I don't develope too much of a bias attachment to my position.