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Pastures based on paperCows don''t have yield monitors, so RMA uses NASS estimates of harvested house and rentals dryland hay yields to come up with its own county-wide grass yield numbers. In a dry year, NASS throws in poorly yielding grain fields that are cut for hay. Government billings statisticians also count Conservation montana Reserve Program acres if haying is allowed. They throw out any dryland hayfields not house and rentals harvested, counting only the harvested billings acres, which are often spring-fed grass hayfields. All that, Hammond says, makes grass production on drier rangeland look better than it really is.

The economics favor the producer, who pays only part of the actual risk premium. montana and house USDA pays 13% of it and all administrative costs. Eligible livestock producers rentals may insure up to 4,000 head of fed cattle and 2,000 head of feeder steers billings per (July to June) year. LRP premiums are calculated with montana a sophisticated analysis of the cost of puts and calls on the CME plus the basis risk and house cash prices on a given day or week. RMA''s Web site has daily and historical rates at www.rma.usda.gov/tools.

"Most people didn''t even rentals and billings and montana and house know about it until after the fact," one trader, not invited to participate, said."They would not even return our phone calls," rentals and billings another said.Sources involved in montana the tender would house not disclose the terms of the rentals and billings agreement, with one montana commenting that the deal had yet house to be finalized. Other traders said Glencore would rentals take all billings and montana of Butte''s 2003 house production and thereafter the tonnage rentals would be billings divided between montana Glencore, Trafigura house and Gerald, with Glencore rentals and billings and montana and house and rentals believed to be getting a 40-percent share of the take. Terms were billings called montana "sharp," but traders admitted to not knowing the precise numbers.

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