In this episode of the Casual Cattle Conversations podcast, Shaye talks with Dr. Josh Maples about price risk management strategies for cattle producers. Dr. Maples discusses the importance of understanding risk tolerance and the various tools available to manage price risk, such as futures and options, and livestock risk protection (LRP). The conversation emphasizes the need for cattle producers to plan proactively rather than reactively. Topics include the financial and mental aspects of risk management, the role of diversification, and common mistakes producers make. Dr. Maples also shares useful resources for further information.
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00:44 Meet Dr. Josh Maples
02:26 Importance of Risk Management
04:58 Financial Considerations for Risk Management
07:50 Price Risk Management Tools
15:46 Common Mistakes and Best Practices
18:47 Final Thoughts and Resources