Agricultural Marketing Policy Center
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The purpose of the Agricultural Marketing Policy Center is to provide applied research and education, including extension education on agricultural marketing and related policy issues for informed decision-making by farm and ranch managers, public decision makers in rural communities and in local and state agencies, state legislators, and congressional delegations in Montana and the Northern Plains and Rockies Region.
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Item Risk Management Options for Wyoming Farms(2009-05) Johnson, James B.; Smith, Vincent H.Farm managers know they are involved in financially risky enterprises and, as a result, develop strategies and tools to manage that risk. Typically, those strategies involve the use of multiple production, price and business risk management tools.Item Risk Management Options for Montana Farms(2009-05) Johnson, James B.; Smith, Vincent H.Agricultural production is a financially risky business. In Montana, production losses from natural hazards do occur (for example, drought, fire, hail and insect damage). Farm managers also face substantial price risks, both in resource markets where they purchase their inputs and in commodity markets where they sell their crops. Energy prices can vary substantially from one month to the next, as can nitrogen and other fertilizer prices. Crop prices can be volatile. Moreover, the link between farm-level production losses and commodity prices is weak. At the market level, when production is relatively low prices tend to be relatively high, but an individual agricultural producer may experience low levels of production because of locally adverse production conditions when commodity prices are also low.Item Risk Management Options for Wyoming Ranchers(2009-01) Johnson, James B.; Smith, Vincent H.; Hewlett, John P.Agricultural production is a financially risky business. On Wyoming ranches, forage losses from natural hazards (lack of moisture, severe drought, etc.) are frequent. Livestock losses also occur because of adverse winter weather, summer heat, animal disease and predation. Ranches also encounter substantial price risks, both in the resource markets where they purchase their inputs and the commodity markets where they sell their livestock and crops. Energy, corn and other feed prices can vary substantially from one month to the next, as can nitrogen fertilizer prices. Livestock prices can also be volatile. Moreover, the link between ranch level production losses and commodity prices is weak. At the market level, when production is relatively low prices tend to be relatively high, but an individual agricultural producer may experience low levels of production because of locally adverse production conditions when commodity prices are also low.Item Adjusted Gross Revenue-Lite: A Whole Farm Revenue Insurance Available in Wyoming(2008-02) Johnson, James B.; Hewlett, John P.; Griffith, DuaneAdjusted Gross Revenue-Lite (AGR-Lite) is a federally-subsidized whole-farm revenue protection insurance plan. The plan is a whole farm (ranch) revenue insurance that covers revenue losses from most farm-raised crop commodities, animal commodities and unprocessed (unaltered) animal products such as milk and wool. The plan protects against low revenue due to losses in production and declines in product quality and market price. Specifically, the plan provides protection against low revenue due to production losses attributable to unavoidable natural disasters and market fluctuations that impact farm revenue in the insurance year.Item The 2007 Farm Bill: Montana Producer Preferences for Agricultural, Food, and Public Policy(2007-02) Johnson, James B.; Haynes, George W.; Brester, Gary W.The Farm Security and Rural Investment Act of 2002 provides the direction for federal agricultural, food, and public policy through September of 2007. The 2002 Act is the most recent in a series of comprehensive farm bills that have authorized federal farm programs. When the 2002 Act expires, new legislation will guide future programs. In the absence of new legislation, federal farm programs could revert to permanent legislation dating from 1949. The presence of permanent legislation helps provide the impetus needed to insure that agriculture, food, and rural policy issues will be addressed by Congress and by United States Department of Agriculture (USDA) programs.Item Risk Management Options for Montana Ranchers(2009-05) Johnson, James B.; Smith, Vincent H.Agricultural production is a financially risky business. On Montana ranches, forage losses from natural hazards (lack of moisture, severe drought, etc.) are frequent. Livestock losses also occur because of adverse winter weather, summer heat, animal disease and predation. Ranches also face substantial price risks, both in the resource markets where they purchase their inputs and the commodity markets where they sell their livestock and crops. Energy and feed prices often vary substantially from one month to the next. Livestock prices can also be volatile. Moreover, the link between ranch level production losses and commodity prices is weak. At the market level, when production is relatively low prices tend to be relatively high, but an individual agricultural producer may experience low levels of production because of locally adverse production conditions when commodity prices are also low.Item Nursery Crop Insurance in Wyoming(2006-09) Johnson, James B.; Hewlett, John P.Multiple peril crop insurance for nursery production has been available since 1989 for nurseries that received at least 50 percent of their gross income from wholesale marketing of nursery plants. Multiple peril nursery crop insurance is available to wholesale nurseries in all Wyoming counties (Figure 1). In June 2005 a final rule was published in the Federal Register that made major policy and implementation changes to the nursery crop insurance policy.Item Crop Insurance for Alfalfa Seed Production: A Pilot Program Available in Select Wyoming Counties(MSU Extension, 2006-07) Johnson, James B.; Hewlett, John P.In several western states including Wyoming a federally-subsidized multiple peril crop insurance product approved by the Risk Management Agency is offered on a pilot basis for forage seed production. In Big Horn and Park counties (Figure1) irrigated alfalfa seed production grown under certification standards or grown under an alfalfa seed contract is insurable.Item Group Risk Income Protection(MSU Extension, 2006-07) Johnson, James B.; Hewlett, John P.Group Risk Income Protection (GRIP) is a federally-subsidized risk management tool to insure against widespread loss of revenue from an insured crop in a county. Crop producers whose yields are highly correlated with county yield are most likely to use this product to insure that the combination of yield and price results in a particular level of revenue. Unlike the related Risk Management Agency-approved Group Risk Plan insurance, either a price or yield decline may result in a producer being indemnified. If total revenue (price times yield) in county is less than a producer’s trigger revenue, the producer will be indemnified for revenue losses due to insurable causes. But producers need to recognize that they could incur reduced revenue from the insured acres of a crop and not be indemnified if there is not a commensurate decline in county per acre revenues for the crop.Item GRP Rangeland Insurance for Wyoming(MSU Extension, 2006-10) Hewlett, John P.; Schumacher, Joel B.; Johnson, James B.A new Group Risk Plan (GRP) Rangeland Insurance product is being offered by USDA’s Risk Management Agency (RMA) in 10 Wyoming counties. For counties in which this insurance product is not offered, USDA’s Farm Service Agency continues to offer the Noninsured Crop Disaster Assistance Program (See Briefing No. 14). The new GRP Rangeland Insurance product is intended to increase ranch managers’ options for managing risk related to the loss of grazing from any of several causes.