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Maintaining Key Resources Amid Strategic Uncertainty

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  • Lippsmeyer, Margaret
  • Langemeier, Michael
  • Boehlje, Michael

Abstract

Changes in production agriculture have altered the level and type of risk faced by farmers. Farm managers face a variety of challenges including shifts in decision making processes (data driven insights), changing metrics for farm performance (sustainability), different day-to-day practices, new technologies, increased global competition in commodity markets, and novel strategies to manage risk at the farmgate. These challenges present significant risks which permeate through targeted risk management strategies and prompt the need for an integrated risk management approach. This article ties together our previous discussions of risk in production agriculture, which includes integrated risk management (Lippsmeyer, Langemeier, and Boehlje, 2024a) and the importance of strengthening key resources (Lippsmeyer, Langemeier, and Boehlje, 2024b; Lippsmeyer, Langemeier, and Boehlje, 2024c).

Suggested Citation

  • Lippsmeyer, Margaret & Langemeier, Michael & Boehlje, Michael, 2025. "Maintaining Key Resources Amid Strategic Uncertainty," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(107).
    • Handle: RePEc:ags:illufd:358499
    DOI: 10.22004/ag.econ.358499
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    Keywords

    Agribusiness; Financial Management;

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