Name: 農業市場.活牛.小麥.玉米 (Market Plus - Elaine Kub and Walt Hackney)
Uploaded: 2016-10-18T12:26:54.000Z
Duration: 16 min 1 s

Pearson: This is the Friday, October 14, 2016

培生。現在是2016年10月14日星期五

Joining me now is Walt Hackney and Elaine Kub.

現在和我一起的是沃特・哈克尼和伊萊恩・庫巴。

Pearson: Now, Walt, our first question goes to you

皮爾森現在, Walt, 我們的第一個問題是關於你的

and it is an issue that I'm sure you're very

而這是一個問題，我'確信你'非常。

This is from Lee Reichmuth in Nebraska from Twitter.

這是內布拉斯加的李-賴克穆斯從Twitter上發來的。

Lee wants to know, what does the cattle industry

need to do at this point because anyone unhedged

在這一點上需要做的，因為任何人都可以解套

for the last two years is close to bankruptcy?

What can producers, what should producers be doing

生產者能做什麼，生產者應該做什麼

from today going forward to stave off bankruptcy

Hackney: Many of them cannot and bankruptcy is

哈克尼：他們中的許多人不能和破產是。

going to be a way of life as we approach the deep

將成為一種生活方式，因為我們接近深層的

There's a syndrome out there right now among

cattle feeders that the feeder cattle, if you

will, are unhedgeable, there's nothing they can

會，都是無法對沖的，他們沒有什麼可以。

do, they're paralyzed and they are a victim of the

做，他們'麻痺大意，他們是一個受害者。

marketing process that's going to take them into

And I know how that sounds but it is a basic fact

我知道這聽起來如何，但這是一個基本事實。

that there's too often these producers have an

有'的太多了，這些生產商有一個

opportunity to get away from that attitude but

they've got to go now finally to a professional

他們已經得到了現在終於去一個專業的

trader that can give them the proper techniques to

交易者，可以給他們適當的技術，以

I've got a customer in Saginaw, Texas and he's a

我有一個客戶在德克薩斯州的薩金諾，他是一個。

huge operator, he is so big that you would think

巨大的運營商，他是如此之大，你會認為。

that he cannot, his exposure has got to be

他不能這樣做，他的曝光率必須是。

phenomenal in regard to his cash flow needs and

在他的現金流需求方面是驚人的，並且

He called me last night and we had a long visit.

他昨晚給我打電話，我們進行了長時間的訪問。

Every hoof of cattle he buys, which is annually

about 35,000, maybe 40,000 head of cattle a year,

每年大約有35000，也許40000頭牛。

every hoof of cattle he buys he hedges and is

他買來的每一隻牛的蹄子都被他拴住了，而且還被他用繩子拴住了。

easily done and he hooks a $60 a head tag to their

很容易就完成了，他把60元一個的人頭標籤掛到他們的身上。

He doesn't go for the big money, he's not going for

He's going for $60 a head and that's all he wants to

他'要以60美元一個人的價格，這就是他想要的一切

He made it when the other cattle feeders were losing

他在其他養牛戶虧損的情況下做到了。

He made it last year when they were losing $400 to

他去年就做到了，當時他們輸了400塊錢給。

This year they're losing anywhere from not quite

break even to a couple hundred bucks a head.

He has made money all the way through this.

feeder cattle if they'll take advantage of a

飼養牛，如果他們'將利用一個。

professional marketer in the commodity end of it.

Kub: I'll weigh in on this because there may be some

庫巴：我'會權衡一下，因為可能有一些。

scenarios where the size of the contract it might

在這種情況下，合同的規模可能會受到影響。

be easier to do it if you're at a large scale,

是比較容易做到的，如果你'在大規模。

in some cases, than it is at a small scale, but in

在某些情況下，比在小規模的情況下，但在。

that case I would suggest that people go talk to

在這種情況下，我建議大家去和...

their crop insurance agent about the livestock risk,

他們的作物保險代理人對牲畜風險的看法。

the LRP, there's livestock crop insurance, it's not

really crop insurance but it is a risk protection.

真正的農作物保險，但它是一種風險保障。

And the details of it, you should speak to your

而其中的細節，你應該跟你的。

agent, but I just wanted to point that out that it

代理，但我只是想指出這一點，它

Pearson: It is out there at any size operation and

培生。它是在那裡在任何規模的操作和

Hackney: Elaine, since this is part of your

哈克尼：伊萊恩，既然這是你的一部分。

not, but do you understand what Pete Bond was telling

不明白，但你明白皮特-邦德在說什麼嗎？

me in regard to his techniques of putting

these -- he's got a daughter your age and she

這些... 他有一個和你一樣大的女兒，她...

does 100% of that by herself in his business.

Kub: Sounds like you guys need to get a new analyst

庫巴聽起來你們需要找一個新的分析師了

Hackney: She has designed a hedge program that is

哈克尼：她設計了一個對沖方案，是。

phenomenal and that's what they use and it's unlike,

現象，這'就是他們使用的，它'不像。

he'll explain it to me every time I talk to him

他每次跟我說話都會給我解釋的

and when we get done I couldn't repeat him.

而當我們完成後，我不能重複他'。

Do you see the potential of a hedge in cattle

You would lock in your selling price through a

你會通過以下方式鎖定你的售價

And in the cattle industry, and I don't know

exactly what your friend is doing in Texas, but if

正是你的朋友在德克薩斯做什麼，但如果...

he's feeding in that instance he has also got

他的餵養在這種情況下，他也得到了。

to lock in his input costs, which is primarily

以鎖定他的投入成本，這主要是指

feed, that's the easy part especially now when corn

飼料，這是很容易的部分，特別是現在當玉米。

Pearson: How far ahead are you locking in feed costs

皮爾森：你提前多久鎖定飼料成本？

You look to December 2017, those futures are $3.90 so

你看2017年12月，那些期貨都是3.9元，所以。

that is an opportunity for everybody to look at this

這是一個機會，讓每個人都能看到這一點

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農業市場.活牛.小麥.玉米 (Market Plus - Elaine Kub and Walt Hackney)

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