How Often Should You Check CME Prices ?

How Often Should You Check CME Prices ?

Dairy farms come in all shapes and sizes. Each one is unique and each dairy producer has his or her own management style based on personal strengths and preferences. They have different habits or routines that characterize the farm.

Most of these habits involve working with the cows, managing people and handling tasks that require physical engagement. However, other aspects of farming involve sitting down and looking at a screen.

That screen can connect you to the rest of the agriculture industry. The financial version of that is the markets. The large amount of people represented in these markets, whether it be fellow farmers, commercial entities or professional traders, combine to produce crucial information to those who run agricultural businesses.

In the case of the dairy farmer, milk prices will tell you your projected revenue for that tasty product produced by your cows. Feed prices tell you about how much of that revenue you have to pay to keep those cows fed and happy. These prices are changing constantly throughout the day – sometimes by quite a bit. But how often should a farmer check these prices? Click here to read the positives and negatives of how often you should be looking at CME prices.  

Tags: Feed Costs