Location

Ottumwa, IA

Start Date

18-1-2014 12:00 AM

Description

Raising livestock has always been a challenging and risky operation. Producers deal with many different types of risk involving production, marketing/price, financial, legal, and human resource risk. Production risk is one that is usually dealt with on a daily basis. The effects of a drought reducing the availability of grazed forages and increased feeding costs. Sickness or disease may limit weight gain or be detrimental to reproductive performance. A late winter storm during calving season can result in sickness and even death for many new born calves. Producers generally have management plans in place to mitigate many of these types of production risks. For example, nutritional supplements are often fed to offset shortages in range or pasture conditions, cattle may be moved to more protected areas for calving, and animals are vaccinated to reduce incidence of sickness or disease.

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Jan 18th, 12:00 AM

Livestock Marketing/Price Risk Management

Ottumwa, IA

Raising livestock has always been a challenging and risky operation. Producers deal with many different types of risk involving production, marketing/price, financial, legal, and human resource risk. Production risk is one that is usually dealt with on a daily basis. The effects of a drought reducing the availability of grazed forages and increased feeding costs. Sickness or disease may limit weight gain or be detrimental to reproductive performance. A late winter storm during calving season can result in sickness and even death for many new born calves. Producers generally have management plans in place to mitigate many of these types of production risks. For example, nutritional supplements are often fed to offset shortages in range or pasture conditions, cattle may be moved to more protected areas for calving, and animals are vaccinated to reduce incidence of sickness or disease.