Marketing Basics

Dr Mark Welch of Texas A&M University made and excellent presentation on Tuesday on Marking.  Some of his observation are below. 

The individual producer is a price taker with no power to influence price on any given day. 

The producer can control when to establish the price he gets. 

Price changes due to changes in demand are usually sustain for longer periods.

Price changes due to changes in supply are short lived. 

Overcome the "what ifs" and get into the market. 

Use crop insurance

Only use the risk management tools you understand.

Prices will fall back to the cost of production sooner or later.

Watch the Market but don't obsess

Keep your strategy flexible.

Don't sell everything at once.

Know your cost of production.  (I think this is most important)

Marketing is  a component of your business plan.

View volatility as an opportunity for selling products and buying inputs.