Improving Your Cattle Risk Management Skills Using BeefBasis.com
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Date
2008-02-23
Authors
Mintert, James
Crosby, Brett
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Cornbelt Cow-Calf Conference
The Cornbelt Cow-Calf Conference is one of the longest running and most successful conferences of its type in the Midwest. For over forty years, the conference has provided an opportunity for producers, researchers, and over 70 industry representatives to come together to explore current topics and issues. This concentrated one-day conference focuses on management and production practices that contribute to making the cow-calf business profitable and competitive on a long-term basis.
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Abstract
Effective risk management requires knowledge of the relationship between local cash market prices and futures market prices, known as the basis. BeefBasis.com is a new web site designed to help feeder cattle buyers and sellers more accurately, and more easily, project basis for a specific set of cattle than they have been able to do in the past. More accurate basis forecasts means feeder cattle buyers and sellers will be able to more accurately assess pricing opportunities afforded them by the futures market, and this in turn means they will be able to manage market risk more effectively.