Now Is the Time To Include Risk Management Tools in Marketing
By Harold Walker
The Oxford Dictionary defines risk management as the forecasting and evaluation of risks, together with the identification of procedures to avoid or minimize their impact.
In the current agricultural marketplace, regardless of the commodity produced, risk management practices and strategies are more important than ever to help ensure profitability and sustainability for today’s producers.
These management practices may be simple and utilized frequently or be extremely complex practices requiring professional services or consultation.
All agricultural producers are subject to multiple risks, which may include financial, emotional, physical, and many others. Today, let us consider some risks that we can not control but certainly can take steps to mitigate.
The grain producer’s risks include input costs, weather concerns, environmental issues, availability of necessary nutrients, chemicals, etc. The producer must also have a reliable market for his production. That’s where National Farmers Grain Division comes into play.
Our risk management tools can put grain producers in the top one-third of the market in many situations. And that can mean a lot when your input costs are sky-high.
Dairy and livestock production share many of the same risks, which may include animal health, environmental and sanitation issues, feed supplies, an adequate labor force, various input costs and, most importantly, a reliable and stable market for their production.
Your National Farmers dedicated staff of professionals will assist you in managing your marketing needs. Dairy conventional and organic milk programs include Maximum Marketing and UltraOptions. Livestock includes the Nexus program for beef producers, Pork Profit Plus for the hog producer and Cash Cow Plus for cull cows. Profit Plus and the Freedom Hedge helps a lot of cattlemen profit more.
Grain includes National Farmers Crop Insurance, NForganics for organic grain producers, and Grain Marketing Plus for conventional producers. Take advantage of one of our programs today!