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.

 

Links & Resources

 

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Catch more conversations like this one and learn more at https://www.casualcattleconversations.com/

 

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