Managing for Profit

One risk management plan does not fit all

A dairy futures broker says all dairies need a risk management plan.  But a single plan does not suit every operation.  In hindsight, Ryan Yonkman, with the Chicago-based futures brokerage firm Rice Dairy, says Margin Protection Program sign-up was a good idea.  He adds that faltering dairy markets this year may convince a greater number of producers to use the program in coming years.  Yonkman, who grew up on a Michigan dairy farm, spoke at the Heart of America Dairy Expo and has some specific advice about how dairymen might approach risk protection, with or without the government program.

AUDIO: Ryan Yonkman (3 min. MP3)