Redd Summit’s Ag Risk Consultant, Ross Bronson, recently made a guest appearance on the American Ag Network Podcast during this year's NCBA convention in New Orleans. Click the link below to listen!
Ross spoke with Jesse Allen about the current and future state of the cattle market, focusing on the decline in cattle inventory caused by the extended drought in the Western States and the Southern plains. While he foresees a bullish market is on the horizon, he expects that the market’s current volatility will continue into the spring and summer months. When producers can expect that uptick in prices will be determined largely by precipitation data, but in the meantime, Ross recommends taking stock of your risk-management toolbox.
Keep Livestock Risk Protection (LRP) insurance at the ready for when we do see those cattle prices rise, and be prepared to leverage the forecasted bullish market to get your finances in order and reposition yourself when prices eventually go back down. For now, Ross emphasizes the importance of sustainability-focused in-house practices. Be careful not to overgraze when spring alleviation hits to keep your grasses healthy years down the road, and use the tools available to you whether that’s PRF, LRP, disaster assistance programs, or a combination of the three.
For more information on risk management, visit Redd Summit Advisors’ risk management page at https://www.reddsummit.com/risk-management and subscribe to our blog to stay up to date when new content is released. Or, give Ross a call at (435) 625-1022.
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