Ways of Risk Management

Risk is defined as a chance taken during any event. In agriculture we take many risks every day. From the risk of the tractor breaking in the early morning, to the risk of the cows getting onto a busy road during the middle of the night, agriculture is filled with risks. Managing these risks is essential to ensuring the profitability of any agricultural operation. While managing the risks facing a modern farm can sometimes require a few extra minutes or a few dollars, the benefits of managing risk properly are well worth it. Growing up on a family farm, I have had the opportunity to see fi…