Comment Text:
Our relatively small business uses a variety of futures and options strategies to provide our end users, mainly dairy farmers ways to contract their feed. We manage not only price, but also basis, and
spread risks. We find that existing definitions and interpretations of acceptable hedging strategies have worked well. Restricting the use of time tested and long accepted strategies could force businesses to widen their operating margins with the unwelcome result of higher feed prices to our dairy farmer customers.
