The markets have seen their share of ups and downs lately, making risk management all the more important.
One ag economist says all farmers need to go back to the basics.
“Let’s go back to some core basic strategies that we can pull out of the bag for our marketing plans. One of those is to recognize that, number one, you, as a farm manager, are not fast enough to chase the marketplace. Things are happening so quickly. The volatility is so high that you can’t chase the market, so the challenge is how do we try to get out in front of this?” said Frayne Olson.
Olson says farmers need to sit down and crunch the numbers, then decide what price they are willing to sell at.
“And a lot of that is based on your cost of production and the cost of storage. Those are things that you know and have much more direct control over.”
Olson adds that placing orders ahead of time can help you capitalize on acceptable prices, saying it helps avoid impulsive decisions during market volatility.
As cattle producers continue to navigate labor constraints and rising production demands, innovation in handling systems will remain a key driver of the industry’s long-term efficiency and safety goals.
Steven McBee Jr. of McBee Farm & Cattle Company joins us to discuss the family farm crisis, producer mental health, cattle industry challenges, farmland preservation, and the role of agriculture in popular media.
Oklahoma State University extension specialist Todd Hubbs joins us for an update on wheat harvest conditions in his state and the key factors shaping marketing decisions.
Laura Priest with the Center for Rural Affairs joins us to discuss solar development trends and opportunities for agriculture and renewable energy production to coexist.
Kansas farmer and friend of RFD-TV John Jenkinson joins us to discuss wheat crop conditions, regional variability, producer financial concerns, and the outlook for the growing season across Kansas.
South Texas ranchers and vets warn that labor pressures will make monitoring for New World screwworm difficult across large cattle operations.
