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Bill would help ranchers better manage livestock market volatility

WASHINGTON D.C. - The recently introduced Livestock Risk Management and Education Act would provide grants to certain state land-grant universities to better equip livestock producers with risk management training.

Specifically, the American Farm Bureau Federation-supported bill would authorize the National Institute of Food and Agriculture to provide resources to improve livestock producers’ knowledge of futures markets to better manage market volatility.

“Livestock producers are not immune from a tough farm economy. Producers need every tool at their disposal to manage risk and have the market intel available to optimize their ability to weather economic volatility. The Livestock Risk Management and Education Act will help land-grant universities partner with producer associations to make sure more producers have market and risk management information they can trust to make vital business decisions,” said Scott VanderWal, AFBF vice president and South Dakota Farm Bureau president.