A new report suggests Canadian farmers need to proactively focus on reducing the risks now covered by government-backed business risk management (BRM) programs — but will need supports to do so.
Tag Archives risk management
Editor’s Rant: Reward v. risk
Where’s the incentive for early adopters?
Drought preparation is better than reaction
Wayne Knight shares a step-by-step guide on building a drought preparation plan
Wayne Knight’s advice is to create a plan that makes a cattle producer prepared for any disruptions in their operation, and then stick to that plan.
What good are bonds?
Bonds and Risk: The price for the greater security bonds provide is that they do pay less on an historical basis compared to stocks
Bonds have long been scorned by investors lured by the seemingly higher returns of stocks. To be honest, on a historical basis, comparing returns over decades, stocks do pay more than bonds — but those stocks pull off this feat with much more pain and suffering. With the higher reward goes the higher risk. For […] Read more
Bovine flu a reminder of risk management in markets
While recent price drops have limited options, cow-calf producers can still lock in a profit, says market analyst
The fundamentals still look strong for cattle prices, despite recent hiccups in the futures market, says a market analyst, but for those buying stockers, a little risk management can go a long way.
Flu outbreak sees buyers balk at beef futures
Cash prices fairly level; beef producers should look into risk management tools, analysts say
Markets have seen cattle futures (mainly live and fed) decline in recent weeks as the highly pathogenic avian influenza (HPAI) strain made its way into dairy herds in six states to date. The good news, said a cattle auction leader and market expert, is that cash prices have remained more-or-less steady amid the chaos.
Satellite-based insurance may be future of forage risk management
Analysis from above could be an accurate, timely way to measure forage growth
Glacier FarmMedia — Satellite-based insurance technology could be a way to protect beef producers during times of drought. There’s more interest in forage insurance during recent droughty times on the Prairies, but evaluating local forage risk is challenging. “Weather events are becoming more acute in severity and frequency, you know the drought of 2023, 2021,” […] Read more
Artificial intelligence, real diligence
Understanding the opportunities — and the risks — with AI applications in agriculture
Farmers are learning more and more about the upside of artificial intelligence in agriculture these days. Benefits include lower input costs, plant breeding improvements and optimized production that contribute to higher yields and additional farm revenue. According to Dan Lussier of Enterprise Machine Intelligence and Learning Initiative (EMILI), AI is also helping producers make better […] Read more
Ontario extends deadline to lock in RMP coverage
Final date to secure coverage moved to June 30
Grain and oilseed growers and cattle, hog, sheep and veal producers in Ontario now get until June 30 this year to secure coverage under that province’s Risk Management Program (RMP). The province on May 29 announced the deadlines for grain and oilseed producers to submit their completed RMP applications and make any coverage changes — […] Read more
Halsall: Aim for the home run ball
Every year, farmers play a high-stakes game against Mother Nature and all of the other in-season perils, betting their fields will yield a bounty of profitable crops come harvest. It’s risky, of course, which is why crop insurance is such a vital aspect of risk management for many western Canadian producers. But is crop insurance […] Read more
Foreign worker isolation support extended
Federal program extended alongside federal restrictions
The federal program helping employers of temporary foreign workers (TFWs) cover the costs of isolating new workers for two weeks on their arrival in Canada has been extended through November. Agriculture Minister Marie-Claude Bibeau announced Monday that the Mandatory Isolation Support for Temporary Foreign Workers Program will now run to Nov. 30, as the government […] Read more
Cyber-Savvy Farmer
