Farm Credit Canada surveyed producers back in July on Risk Management and says the majority have strategies in place.

Craig Klemmer, FCC’s Principal Agricultural Economist, says the survey showed 67 per cent of farm operators reported a high level of concern for marketing risk, while 60 per cent were concerned with production risk and 53 per cent with financial risks.

“We’re constantly concerned by what the markets are doing, and what prices we’re going to see for our production. So, no big surprise that marketing risk tops the board.”

Klemmer says the good news is most producers are in a solid financial position to withstand short-term impacts on their business.

Marketing risks – like price and market access - were most prominent among beef, grains and oilseed sector producers at 74 per cent, followed by those in the fruit, vegetable and greenhouse sector at 58 per cent and the supply-managed sectors of dairy at 55 per cent and poultry at 53 per cent.

Ensuring there is sufficient working capital was the most prominent financial concern across all sectors, followed by unfavourable changes in interest rates and meeting debt payment obligations.

The survey involved 1,363 producers considered key decision-makers for their operations. Based on the sample size, the survey has a margin of error plus/minus 2.2 per cent, 19 times out of 20.