Marketing
Definition of Marketing Terms
Forward contract? Carry spread? Short hedge? Understanding the terminology is a must as you navigate the world of commodity marketing.
Marketing Plans
A written marketing plan is essential to the success of today’s farm and ranch. It is a document listing your intentions for managing risk and capturing the price levels you want in the commodity markets.
Why write a marketing plan? It is a road map past the farm gate, something that lets you think through those “what if” scenarios. Writing a plan takes time, but it may expose shortcomings you didn’t realize were present in your operation and allows you to address them.
A good plan should include these six components:
- Production Level & Risk Assessment
- Financial Analysis
- Price Targets
- Fundamental Outlook
- Tools & Strategies
- Evaluation
Get started today with these documents as a guide:
Additional Resources
This South Dakota State University Extension website provides useful marketing information, including market reviews by commodity, recent publications, and a crop budget and risk calculator.
These Market Reviews are updated regularly by SDSU, so check often for new information:
