Let's Play A Game
“You got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run.” These well known lyrics of Kenny Rogers, The Gambler don’t just apply to a game of cards anymore.
As producers look down the road to 2009 a lot of questions come to mind. Hold out for better prices or take the money and run? The stakes are high and the winnings are uncertain.But every hand’s a winner and every hand’s a loser – it’s all in how you play your cards. Before laying your chips on the table, consider the inside advice of Kansas agriculture leaders.
Kansas Secretary of Agriculture, Adrian Polansky sees 2009 as a year with challenges that will push for sound decision making. “One area we really need to focus on is risk management,” Polansky said. “For production agriculture the volatility that we’ve seen on the input side whether it’s diesel fuel, fertilizer or other inputs; it appears that we are likely to continue to experience volatility. There will certainly be some market dynamics that we will have to pay attention to in order to be successful.”
Polansky also mentions the uncertainty that lies ahead with a new administration on the federal level. “There is certainly interest in some of the critical appointments, we also have much of the Farm Bill yet to be worked through and there are still many unanswered questions in regard to how the Farm Bill will be delivered, which is very significant to all producers.”
In terms of crop agriculture decisions, Polansky says that policy in terms of biofuels could have significant impact on potential profitability. “For agriculture and the rural economy it’s important that we work towards policy decisions to enhance biofuels and bio-refineries that have positive impact.”
