01/17/13 3:11:58 PM|
Where to begin 2013 Sales?
That depends !! How is that for a definitive answer.
The new crop price targets should be different for each farmer in my opinion. I have always like to begin to market grain at 10% over your Cost of Production. AND, each farmer will have a unique CoP number. What's yours?
Then take an overview of the markets from the 10,000 feet level. Supply, demand, world stocks, world weather conditions, planted acres and any other influencing factors. These will give you a chance to determine the possible range of prices for each crop.
Then, you first hope your personal CoP is within the range. 2nd, set price targets on a scale up until you reach your comfort zone of sales prior to harvest.
Be prepared to adjust your sales targets as you see any of the "factors" change.
Remember: You will never go broke making a profit.