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Episode 201: "Grain & Cattle Marketing Update - Fall 2023" w/David Derwin
In this week’s episode, Tracy speaks to David Derwin in our “Grain & Cattle Marketing Update: Fall 2023.”
It’s hard to know what to do when markets are continually changing. But as we all know, markets do just that; they always go up and down.
In today’s episode, David shares a few insights about what producers can do for their grain and cattle marketing in fall 2023.
- David gives our audience a brief overview of current market conditions and prices.
- Many producers are finding themselves with better-than-expected yields and have to sell for bin space or cash flow purposes. But many are not necessarily seeing the price they want. David shares his thoughts on this.
- Prices have come down a lot for wheat, corn, and barley. Durum prices are strong, and oilseed prices are still decent. David speaks to the different marketing strategies for each commodity.
- Tracy asks David about marketing and hedging strategies used so far this crop year.
- They discuss high-interest rates and their impact on selling and storage decisions.
- Given the high cattle prices, David discusses some hedging alternatives for beef producers.
* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
Commodity Portfolio Manager with PI Financial
Beginning in 1995 on the trading floor of the Winnipeg Commodity Exchange, David’s experience spans over 25 years working with individual, corporate & institutional clients at multinational and boutique investment firms.
At PI Financial Corp., one of the largest independent investment & commodity futures advisers in Canada, he helps farmers implement options & futures revenue management programs to provide the downside protection they need and the upside potential they want, all without committing grain for physical delivery. These hedging services are an integral part of a farm’s overall marketing plan to manage both price and production risks as well as opportunities.
The Impact Farming Show
Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation.
Show Host - Tracy Brunet
CEO of Farm Marketer
Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming.
In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas.