|
Martinsville, Ohio | Great post and needed discussion, Dave.
As a Consultant and farmer, soil health is a key to me. Crop rotation is critical on my farm and the farms I work with. Right now I am very pleased with my C-C-S-S-W-Double Crop Soy rotation. The farther I can spread the years between crops the healthier my crops are without expensive technology making me more profit right there.
Marketing the crops from that rotation is a whole different ballgame and I have enlisted a marketing specialist I consider an expert to assist my marketing approach.
So I am not changing my crop much either. Making each one profitable is my goal. I know I can't sell the top of the market every year but I cannot afford to be in the bottom third either.
Knowing my costs is key to my marketing. Until I know what I have in them I have difficulty setting a target price.
All the prices posted this week are very profitable for me with my costs. I can buy protection to make more and protect my bottom at the same time. That is an individual decision. I am locking in my target prices while protection my top with synthetic puts. I am willing to invest money in that decision to protect my top because a La Nina event or any major weather event is going to make this market very nervous and I want to capitalize on that but not lose the profitable position I am in right now.
I think my plan will work for me and if it does I will be very successful. I have storage for excess over target yields and crop insurance to protect that income. I feel I am in about the best position I can put myself into.
I look back alright and kick myself daily but helps take advantage of the most profitable prices I have seen in years and maybe my lifetime even though production costs are much higher now than they used to be.
This page could be the best Marketing Club one can join but local ones are valuable. Working with people with like goals are a big asset to me.
Ed | |
|
marketing club update
