As a farmer or rancher, you take a gamble every year when you plant crops or breed and graze livestock. You wager against factors like the weather, commodities market and your own health that you will make a profit rather than lose money.
While you cannot control all the risk factors working against you, you can level the proverbial playing field as much as possible by making educated guesses at the start of each season. With the help of experienced Fort Collins livestock risk management brokers, you can lower your risk of losses and increase the chances of bringing in a profit when you take your steers to market.
Predicting the Commodities Market
The commodities market can be challenging to keep track of because it hedges on a variety of different factors. Everything from tariffs to the exchange rate of foreign currency determines at what price you can sell your crops and livestock and how much need seed and calves will cost you.
Keeping track of what the commodities market is doing can also be a challenge when you spend most of your time out in the field. You must rely on news sources like updates from the state farm bureau to tell you what is going on and how it could affect you.
When you network with livestock risk management brokers, you can act quickly based on what the commodities market is doing. Your brokers know what signs to look for and when to act quickly to minimize or eliminate your losses. You will know when to sell your steers and what price to bid on for each calf or yearling that you want to add to your herd that year.
You can find out more about livestock risk management brokers online. Contact Compass Ag Solutions in Fort Collins at website.
