During the initial months of the 2023-24 wheat marketing year, Oklahoma State University Extension grain market economist Kim Anderson examined the dynamics of wheat prices. From January to June, prices experienced notable fluctuations, ranging from $7.50 to $8.40.
Highlighting the significance of price variability, Anderson emphasizes the need for farmers to adopt a strategic approach to wheat sales. To capitalize on potential price benefits while mitigating risks, Anderson advises farmers to create a well-thought-out selling plan and adhere to it.
The key takeaway is the importance of staggering wheat sales, enabling farmers to navigate market volatility more effectively. By implementing a staggered selling strategy, farmers can seize favorable price opportunities and manage sudden price drops.
In addition to the wheat market update, the upcoming episode of SUNUP covers a range of informative topics, including livestock checkpoints at the Oklahoma/Texas border, effective heat stress management in cattle, the advantages of early weaning in hot temperatures, the value of the Oklahoma Gold Program for fall-born replacement heifers, mental health support for producers, the risks associated with curly dock in rangelands, and insights from a workshop on managing mass loss in livestock. Source : wisconsinagconnection