Beef cattle producers are all too familiar with economic losses stemming from uncontrollable events such as drought and disease; however, losses due to rapid price declines have historically been the primary source of economic losses for U.S. cattle producers. While studies have shown price risk management tools can be effective in reducing price-decline losses, these tools are seldom used, especially by producers with small- and medium-sized operations.
In an effort to improve the economic sustainability of these producers,…
