just walk me through how to even do it for future reference.
Find yourself a commodities futures broker.
Say next years March feeder cattle or June live cattle are whore house high this December and you don't think those prices will hold until it's time for you to market your calves in March.
Sell a March feeder contract (covers 50,000 pounds). If the futures drop $20 cwt your hedge account will be full of money.
If the market goes up $20 cwt, you'll get tired of your broker sending Chicago ACH's of 1500-4,000 a day to cover your margin calls.