Crop growers are not the only ones needing a risk management system this year. Farm analysts say now is the best time for cattle ranchers to check out their options.
“Some people are checking cattle at night. We’re calving heifers. We’re calving cows. Those calves are hitting the ground, and just think about if you could insure those cattle for today for, let’s just say, $1,600, and you’re spending about $50 to $60. Maybe you don’t want to spend that much. Maybe you want to insure that calf for $1,000 and spend $10 or $15. Those are some of the options that we could look at on those cattle that are hitting the ground right now,” said Clay Burtrum.
Butrum says at the end of the day, you want to make sure you keep yourself profitable while protecting the business for the next generation.
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Lamb prices have seen a surprising surge driven by a tight supply and increasing demand in non-traditional markets.
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“We believe that it is just a matter of days or weeks... before we see New World screwworm in Texas.”
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Farmers may benefit from higher turkey prices this holiday season, but risks from HPAI and limited poult placements could further strain the supply.
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USMEF CEO Dan Halstrom joined us on Monday’s Market Day Report for his analysis on the U.S.-Taiwan trade agreement, which includes big bucks for U.S. Beef.
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