. Agri-news. Agriculture. C9COCOGOGOGOCOCOGOC/ December 23,1991 Simulations give producers marketing edge Depressed grain markets and the cyclical highs and tumbles of livestock markets means effective marketing is a key part of any farmer's success says an Alberta Agriculture regional marketing economist. "Quite simply marketing makes a difference and it requires good skills, just as production does. Good production techniques will yield a better product or yield, and marketing expertise means more profit," says the Fairview-based Lee Melvill. "And just as production proficienc
. Agri-news. Agriculture. C9COCOGOGOGOCOCOGOC/ December 23,1991 Simulations give producers marketing edge Depressed grain markets and the cyclical highs and tumbles of livestock markets means effective marketing is a key part of any farmer's success says an Alberta Agriculture regional marketing economist. "Quite simply marketing makes a difference and it requires good skills, just as production does. Good production techniques will yield a better product or yield, and marketing expertise means more profit," says the Fairview-based Lee Melvill. "And just as production proficiency must be learned, so must marketing skills," he adds. To assist in that learning, Alberta producers can turn to three market teaching packages available through Alberta Agriculture. The three—FutureSim, CattleSim and GrainSim—offer actual market simulation to help producers learn the language and mechanics of and alternatives offered in the corresponding markets. "Better understanding of their markets and the ways they can sell their products give producers an important edge. These market simulations are a way to build marketing skills," he says. FutureSim offers participants the opportunity to try forward pricing using hedging on the futures market without laying any cash on the line. They can buy and sell futures contracts while learning the factors that influence the world market. These factors include world weather patterns, world trade patterns, and seeding and harvesting dates for various commodities worldwide. "For some, the language of hedging seems intimidating. Through the FutureSim simulation producers can get comfortable with the terms and the mechanics of the futures market and then be able to use that market to their advantage," he says. CattleSim takes its participants through two calf crops over a period of two and half years. Participants can choose from a variety of delivery alternatives as well as market pricing alternatives. alt
Size: 2105px × 1187px
Photo credit: © Library Book Collection / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookcollectionto, booksubjectagriculture, juldec
