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Agrimarketing : September 2008
® RISK AND REWARD Agriculture has always been subject to risks and rewards. Today, when asked how things are going, most ag producers respond, “Costs are too high.” Two years ago they said, “The prices I’m receiving are terrible.” For veterans of the ag industry, neither is a surprise. Despite the many new and sophisticated price setting tools available to them, ag producers still can’t com- pletely control the prices they receive, or won’t. They also can’t completely control the weather or other curve balls thrown at them throughout the season. They can, however, try to limit their upfront costs. Chances are, control- ling costs were drilled into them at a very early age by their parents and especially their grandparents. The upfront costs, and thus risk, of planting and harvesting an acre of corn has increased from $150 to $400 per acre. That doesn’t include land rents that have also doubled in the past two years. However, half of the land is owned by operating farmers/ranchers and an estimated 70% of it is debt-free, so they don’t face that cost. Lynn Henderson Publisher But on the positive side, the prices they are receiving are wonderful. In fact, USDA just issued a forecast that showed ag producers will post record net farm income of $96 billion, a 10% increase over last year’s record. So, when the cost comment comes up, a smart marketer should have a convenient way to point out the reward the investment can achieve. Asimple technique is to have the latest commodity price quotes handy. Or, when operating in a store front, post the commodity prices of the day in a prominent spot and direct attention to them. That will brighten any one’s day. AM THIS MONTH IN AgriMarketing Five Years Ago (2003) • AdFarm opens its new office in Calgary, AB. • Jim Thrift, joins the Agricultural Retailers Assoc. as VP/Regulatory Policy and Corporate Relations. • Following its acquisition of American Cyanamid, BASF consolidates its Agricultural Products Division to Research Triangle Park, NC. • Learfield Communications acquires Wisconsin-based Goetz Networks, including its Goetz Farm Radio Network. Ten Years Ago (1998) • Deere creates the North American Ag Marketing Center and locates it in Lenexa, KS. • Farm Journal Media acquires AgDay TV. • ACGO acquires Willmar Mfg. from Cargill and the Spra-Coupe product line from Melroe. • Afederal jury rules in favor of Novartis Corp. (now Syngenta) and Mycogen Seeds in a patent dispute with Monsanto. Twenty Years Ago (1988) • An intense drought cuts the nation’s crop production by nearly 40%. • Lee Enterprises acquires Farm & Ranch Guide, Bismark, ND. • American Cyanamid (now BASF) receives the first ever patent for bio-engineered herbicide-resistant corn. It grants a sublicense to Pioneer Hi-Bred. • Richard Meyocks’ forms The Meyocks Group, following his departure from CMF&Z. • NAFB creates “Trade Talk.” Organizers say, “Booths can be decorated to help attract attendance.” AM 4 AgriMarketing ¦ September 2008 is published by: Henderson Communications L.L.C. 1422 Elbridge Payne Road, #250 Chesterfield, MO 63017 Phone: 636/728-1428 FAX: 636/777-4178 E-mail: firstname.lastname@example.org Publisher/Editorial Director ____________________________________________ Lynn Henderson (LynnH@AgriMarketing.com) ph: 636/728-1428, ext. 2001 Managing Editor ____________________________________________ Audrey Evans (AudreyE@AgriMarketing.com) ph: 636/728-1428, ext. 2003 EDITORIAL ____________________________________________ NAMA Liaison Editor Jenny Pickett (email@example.com) AM Editorial Advisory Board: Mike Borel, The Context Network Tim Brackman, National Corn Growern Assn Erika Brandt, AgCareers.com Jim Farrell, Farmers National Company Russ Green, CLAAS Jerry Harrington, Pioneer Hi-Bred Laura Henke, Charleston|Orwig Tommy Jones, John Deere Crop Insurance Laura Mayfield, McCormick Company Pat Morrow, BASF Steve Rhea, Rhea & Kaiser Brad Schu, Land O’Lakes/Purina Mills Angie Skochdopole, Quarry Integrated Comms Bob Wilhelm, AdFarm CIRCULATION _________________________________________________ Send subscription inquiries and address changes to: P.O. Box 16123 St. Louis, MO 63105 PRODUCTION _________________________________________________ Design/Layout Audrey Evans Design for NAMA News Jennifer Pickett ADVERTISING SALES ____________________________________________ Advertising Sales and Customer Service Manager Judith Knoll (JudyK@AgriM arketing.com) ph: 636/728-1428, ext. 2002 AgriMarketing is sent to qualified executives employed by corporate agribusinesses and their communication agencies, farm media, trade associations and others providing services to North American agriculture. Daily news and updates about the Agricultural Industry can be obtained by going to: www.AgriMarketing.com. For a free subscription to AgriMarketing Weekly e-newsletter, go to www.AgriMarketing.com.
CAMA 2008 Canada