Maintaining Key Resources Amid Strategic Uncertainty

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).