The cattle market just put producers through one of the wildest years in recent memory, and this episode does not sugarcoat it. Lauren Moylan sits down with Dan Gerhold and Samantha Cozza-Wright to unpack a year defined by $400–$500 per head price swings, an $80 per hundredweight collapse in two months, dead cat bounces on low open interest, and a cash market that refuses to roll over. They dig into why producers froze on coverage during the rally, panicked on the way down, and now hesitate again as prices snap back. From shrinking cash transparency in Texas and unseasonably strong ground beef demand, to 2026 volatility risks, LRP sticker shock, and a grain market that looks ready to grind higher, this conversation is a blunt playbook on how to quit reacting emotionally and start using rallies to protect the top of the market.LinksCattleUSA Insurance - ⁠https://info.cattleusainsurance.com/l/1102253/2025-06-04/288f5m⁠⁠CattleUSA Website - ⁠https://www.cattleusa.com/⁠Facebook - ⁠https://www.facebook.com/cattleusamedia⁠Instagram - ⁠https://www.instagram.com/cattleusa.media/⁠Subscribe to our newsletter - ⁠https://www.cattleusadrive.com/⁠CattleUSA Media - ⁠https://www.cattleusamedia.com/⁠Lauren’s Instagram - ⁠https://www.instagram.com/_laurenmoylan/⁠Lauren’s Youtube - ⁠https://www.youtube.com/@Showboatmediaco⁠The Next Generation Podcast Website - ⁠https://www.thenextgenag.com/⁠Takeaways• The market has been violently volatile, with some calf types swinging $400–$500 per head inside a month.• Cash is “really strong” and packers still need cattle, but transparency is eroding as Texas drops out of reported negotiated trade.• Ground beef demand is unseasonably strong, shifting focus away from high-end cuts as the holidays approach.• Volume, slaughter, and price drifting lower together is a red flag Dan is watching closely.• Producers largely skipped coverage on the way up, then panic-booked hedges after Trump comments and a sharp break lower.• Psychology is driving a lot of bad decisions: waiting for “just $10–$15 higher” keeps producers exposed.• 2026 is set up to be just as volatile as 2025 if producers do not change how they manage risk.• LRP feels expensive because option volatility exploded, but structured correctly it can still protect meaningful price windows.• Dan outlines using LRP with options to narrow cost and protect the top slice of the market instead of insuring all the way to zero.• The latest USDA grain report was a “nothing burger,” but seasonal tendencies still point toward firmer corn into early spring.• If corn rallies into the $4.70–$4.95 range, Dan urges producers to get serious about hedging 2026 feed costs.• Samantha stresses using this rally to protect, not waiting for the next $20–$80 per hundredweight washout.• Even in chaos, there is opportunity for disciplined producers who reward rallies instead of chasing safety after the fall.Chapters00:01 Winter Updates and Weather Misery in Iowa and Kansas01:14 Choppy Futures, Gaps, Moving Averages, and Holiday Kill Expectations02:37 Cash Strength, Shrinking Texas Transparency, and Ground Beef Demand04:47 Slaughter, Volume, Restaurant Season, and Consumer Behavior Risks06:12 Looking Past 2025: Screwworm Headlines, Border Speculation, and 2026 Uncertainty07:52 Producer Psychology: Panic Booking, Missed Rallies, and Emotional Hedging09:50 $400–$500 Head Swings, Option Premiums, and the “To Zero vs To Reality” Problem12:08 LRP Structure, Option Strategies, and Protecting the Top of the Market14:28 Grain Market “Nothing Burger,” Yield Questions, and Seasonal Corn Rally Potential16:16 Final Advice: Use the Rally, Protect Profits, and Get the Prime Rib Thawedcattle markets, volatility, cash trade, Texas negotiated trade, market transparency, ground beef demand, producer psychology, risk management, LRP, options strategies, price protection, grain market, corn prices, USDA report, 2026 cattle outlook