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House bill would provide for risk management training

South Dakota’s lone congressman says a bill he’s co-sponsoring will help  livestock producers improve their risk management and marketing skills.

Republican Dusty Johnson introduced the Livestock Risk Management and Education Act with Frank Lucas (R-Oklahoma) and Liz Cheney (R-Wyoming). Johnson says cattlemen need to be comfortable with increasingly sophisticated risk management tools.

“In cattle country so many are wearing four of five hats; they’re doing the books, they’re all pulling calves, they’re trying to figure out what a marketing approach looks like for them,” Johnson told reporters Wednesday. “This is going to make that a little easier.”

The measure authorizes money for land-grant universities to train livestock producers on futures markets so they’re prepared to manage market volatility.

“This would be about training them,” said Johnson. “This is not so much about students in the four-year program as it is actual day-to-day working producers having a better understanding of the futures markets.”

The bill’s summary says it allows the National Institute of Food and Agriculture to oversee grants and training resources on futures contracts and risk management strategies.

AUDIO: Congressman Dusty Johnson

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