Agricultural Risk Management
Risk is a natural part of any farming operation. Farm success depends so much on factors that a producer cannot control such as weather and global markets. In recent years, risks facing Vermont farmers have increased due to changes in the nation and the world.
* Increased globalization has created more intense competition for farmers due to importation of cheaper goods produced outside the United States.
* The development of new technologies has enabled increased production of goods leading to price decreases and thus increased competition. The new technologies and increased production has also led to specialization which means increased risk of large crop losses in the case of disease, pest infestation, or certain weather events.
* More volatile weather patterns are a threat to crops and livestock.
* The increasing cost of fuel and feed is influencing farm operations.
* The government is putting more responsibility for risk into the hands of farmers themselves. In other words, farmers cannot expect to receive a check if there is a disaster. Farmers must either be enrolled in the Non-Insured Crop Disaster Assistance Program, or have a crop insurance policy in order to be considered for assistance payments if a disaster should occur.
The intention of this weblog is to convey information to producers, consultants, educators, students, and other interested parties about current risks that Vermont farmers face and provide information about workshops, strategies, and other resources that can be used to manage those risks.
This blog was developed by UVM Extension.
