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.
Lewie Pugh, with the Owner-Operator Independent Drivers Association, joined us on Monday’s Market Day Report with his insights on the incident and a deeper dive into the issues at hand.
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Ag Secretary Brooke Rollins will travel to Europe and Asia to seek new trade partnerships for U.S. crops after China reduced imports due to tariffs.
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The $221 million will help farmers and ranchers cover losses from Hurricane Helene that USDA programs didn’t cover. They’ll focus on infrastructure, markets, timber, and future economic losses.
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Tom Peterson with the New Mexico Cattle Growers Association says taxpayers are “unfortunate casualties” of this overlay now that the Mexican wolf population is stable under ESA guidelines.
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