#RightRisk #RiskInAg #AgRiskMgt
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THOSE WHO ARE NEW to production agriculture or just getting started, may not have considered the many ways risk and uncertainty make their appearance in an operation.
Risk management encompasses a wide variety of topics and issues when applied to commercial agriculture. Any time a large portion of your income depends on factors outside your control, such as weather and market forces, the potential for success hinges on your ability to manage these and other risks. Agricultural producers frequently overlook the importance of strategic thinking and fail to formulate a comprehensive risk management strategy. This oversight leaves them vulnerable to the uncertainties associated with fluctuating prices, poor yields, and rising expenses.
