a persons definition of well hedged. My job(responsibility) of managing a producers risk also includes managing his financial risk of his cash flow with the consideration that hedges can and do become a liability if not part of my risk management guidelines. One of the many rules I use and remind them of, is don't get greedy. Trying to hedge 3 months of full production does take a big bite out of the cash flow and more so if that hedge goes against you. Each producer has a different scale of cash flow and different levels of financial risk. This makes my definition for well hedged, different for each producer. In general terms, they are probably not well hedged when looking at the emotional picture we have today.

I feel like they are well hedged with 50% hedged for about 50% of the guys I'm working for and 25% have 75% hedged(those that are seasoned hedgers and Believe and Trust my thought process) they do a lot of Fishing with me and even go along with many of my hallucinations. I would say they are hedgers that trade like a spec trader and they are the most successful and cause me no anxiety. Then there's the other 25% that wait til the bottom and then start screaming with courage to "Hedge Em All". Today those screams are DEAFENING!

I've had a 58.50 potential target for this week if it broke below 60.00 to Bank 50% of our hedges and most took my rec. Maybe right/maybe wrong but we have $10 profit in the bank and the hog market has a long term Addiction for extreme 30 day moves and this one started on Aug 15th and 16th. I have to trust the cycle rotation with Time & Price squaring calling for a potential and probable bottom this week to start some sort of a retracement by Fridays close. I maybe right/I maybe wrong-----it may only bounce back to 62.00 and go down again but I will cross that bridge when I come to it. The market Giveth and the market Taketh Away and most experience the Taketh Away more than the Giveth. As I always lecture------it ain't yours until you put it in The Bank.