Opportunities are presented to us every
day, but it’s the actions we take when they cross our path that
determine our outcome. When it comes to dairy risk management,
we may not see an opportunity for what it is until weeks or
months later. However, no one is ever going to time the markets
perfectly every time. I believe we must get over this fear of missing
out on an opportunity and base our decisions on our dairy’s metrics
at the present time to achieve what we want our outlook to
be. A strong financial foundation for your dairy includes knowing
and understanding your cost of production numbers, and in-depth
planning that includes developing a sound risk management plan.