Making a focused marketing plan
An ag economist says growers need to focus the information they use in their marketing plans based on individual goals.
David Widmar with Ag Economic Insights tells Brownfield it can be difficult making marketing decisions with several impacting factors like yield expectations, weather in competing countries and trade expectations…
“We have to wade through all of that noise or that data and we have to drive it down to the implications for our farm and the specific actions that we might take,” he said.
And Widmar said too much information can be a bad thing.
“It goes back to signals verses noises,” Widmar said. “And so, if we turn up the amount information coming our way, in most cases we just increase the amount of noise.”
He said while a lot of the North American production uncertainty has been ‘closed out’, farmers need to watch what happens with the Phase One trade agreement that is set to expire at the end of the year.