Price protection for the fall

[Silver]

I watched most of the winter and the best on offer was $1.64 on 850 wts at around $7/100lbs, Canadian dollars we're talking.
The day it was $!98 for $6.37/100lbs I bought but my credit card didn't process,I think I put in a wrong number. So the next day when the premium chart came out I bought at $2.00 for $6.64. That is a contract settling September 25. I don't have to sell the cattle then, I can get higher I basically bought protect on 140,000 lbs of steers. I could have bought higher protection coverage but at a cost. I figured if they sell higher I won't miss the premium much and if I collect I have covered my ass. Should also be able to sleep better this summer.

Bought in about the same as you, and for the same reasons. I felt a little foolish as the insurable price went up and the premiums went down, but then I reminded myself of my reasoning and soon went back to sleeping well again :cboy: