Question-and-Answer Session
Okay. Thank you. [Operator Instructions]. And our first question comes from Heather Jones with BB&T.
Heather Jones - BB&T Capital Markets
Good morning.
George E. Deese - Chairman, Chief Executive Officer and President
Good morning, Heather.
Heather Jones - BB&T Capital Markets
Very good quarter, congratulations.
George E. Deese - Chairman, Chief Executive Officer and President
Thank you so much.
Heather Jones - BB&T Capital Markets
I have a question one on your hedging. And I'm not going to ask statistics but it's more of a qualitative type question. You said that you have some of your coverage I believe that's what I heard you say, some of your coverage in place for '09. And I was wondering I believe last year that you had almost all of your wheat coverage in place going into the year. Wondering if this is a change in direction or just given the volatility in the market that you saw that it was best to wait before completing your coverage, just wondering what we should expect to the last few months of this year?
George E. Deese - Chairman, Chief Executive Officer and President
Heather, so that's a qualitative question for you.
Heather Jones - BB&T Capital Markets
I said qualitative.
George E. Deese - Chairman, Chief Executive Officer and President
Heather, again, each of your brands on a different side of facts, just to reiterate up like that strategy does where, we are covered parts of '09 that we're not saying specifically on the term of that because of competitive reasons. But, I would say that as say that gives you an indication the first quarter is by far the heaviest. And cost will be the highest for the year. I will say that the back half for the year looks a lot more attractive and when we see an opportunity to back and participate in those hedges of later part of the year, we have in and we will.
Heather Jones - BB&T Capital Markets
Okay. And you said you took pricing out 5% to 6%, just wondering if you could give us a... I thought you were taken some price in August. But I don't know if this you're talking about the same price increase. I'm wondering if you think that's the only price increase you should have to take for '09.
George E. Deese - Chairman, Chief Executive Officer and President
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