We help navigate the space of dairy market risk from understanding the basics to future implications. The first part cover dairy risk management options to important deadlines and the second part discusses what dairy market risk will look with changes in the Federal Milk Marketing Orders to the Farm Bill. Dairy Stream host, Joanna Guza, and guest, Dr. Chris Wolf, discuss the following topics:
- Why do we have dairy market risk tools
- Dairy market risk options
- Options for certain size dairies
- Recommendations for beginners in risk management
- Important dates and timeframes
- Federal Milk Marketing Orders impact on dairy market risk
- Potential for new risk management tools
- Resources
- Future of dairy market risk management
This episode is brought to you by the Voice of Milk.
About the guest
- Chris Wolf is the E.V. Baker Professor of Agricultural Economics and the Director of Land Grant Programs in the Dyson School of Applied Economics and Management at Cornell University. Wolf conducts research, extension and teaching focusing on dairy markets and policy, livestock disease economics, farm business management, risk management, and farm animal welfare. He has published widely in academic and industry outlets. Wolf’s extension program stresses the effect of public policy on farm behavior and financial outcome, aiming to focus on issues of current and future importance to policy makers and industry decision makers. A native of Wisconsin, Wolf received his B.S. from the University of Wisconsin and his Ph.D. from the University of California-Davis.
Episode recorded February 27, 2025
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The Dairy Streamlet is a condensed version of a long Dairy Stream episode and covers the high-level points of the conversation. If this topic interest you, then listen to the full episode on March 5.
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