2024 is not even two months old and it has already cemented itself into my memory as one of *those* years. The ones that teach you lessons you didn’t realize you needed to know. This week felt difficult when it came to pinning down one topic I wanted to discuss. There are so many moving pieces in this market but most of them are known. An analyst I deeply respect likes to say, “a known fundamental is a worthless fundamental,” yet here we sit on week 12 or so of speculators selling and end users buying hand to mouth on the same batch of known fundamentals.
From an on-farm risk management standpoint, one of my biggest worries over the last year has become reality—and worse yet, it has happened far sooner than I would have ever expected.
