DES MOINES, Iowa, Nov. 8, 2013 /PRNewswire/ -- More than 75 percent of crop farmers and 87 percent of livestock ranchers make marketing decisions independently, according to a marketing study released today by Meredith Agrimedia, a division of Meredith Corporation (NYSE: MDP).
According to the study, these farmers/ranchers rate cash sale, forward cash contracts, and futures contracts as the top three marketing tools they use. In addition, the results demonstrated that participants were evenly split between managing risk and enhancing price when asked to categorize the primary goal of their marketing.
"Operation size seems to determine the goal of marketing for the participants," said Alejandro Munoz de la Cruz, Manager of Market Research for Meredith Agrimedia. "The larger the operation, the more likely the farmer is to focus on managing risk rather than enhancing price."
In response to market need, Meredith Agrimedia has created The Successful Farming Marketing Academy for farmers and ranchers to improve their marketing skills. The course will be led by commodity trader Al Kluis, and Successful Farming staff members, and it will run for 12 weeks beginning in December. Class topics will include insight and instruction about how an exchange works, futures and options, charting and ways to improve revenue.
"We created a course that will serve as a tool for farmers and ranchers," said Mike McGinnis, Markets Editor for Successful Farming. "Those that are making independent marketing decisions need a resource to help them maximize marketing potential."
For more information about The Successful Farming Marketing Academy or to register to participate, go to http://sfmarketingacademy2013.com/.
Meredith Agrimedia builds on Meredith's 110-year heritage of serving the information needs of rural and farm families. It encompasses Successful Farming, Living the Country Life, Agriculture.com and Ageless Iron Almanac to provide marketing solutions by engaging those living on the land through a wide variety of platforms, including publishing, digital, broadcast and mobile.
Successful Farming was Meredith's first magazine in 1902 and now reaches 1.2 million readers each month. Its website, Agriculture.com was established in 1995 as one of the first agricultural websites in America. Living the Country Life was founded in 2002 as a sister publication to Successful Farming. The editors identified a growing community of small farmers and acreage owners across the United States that needed information tailored to their lifestyles. In 2007, Living the Country Life became a standalone multimedia brand, using publishing, radio, digital, and television to reach the rural lifestyle audience.
SOURCE Meredith Agrimedia