A farm business management instructor says some farmers are considering cuts to crop insurance.
Kristina McVicker with South Central College in Mankato, Minnesota tells Brownfield it’s partly a reflection of very tight margins.
“They’re really giving it a lot of consideration, and the crop insurance payments varied so drastically.”
In 2024, she says losses in her region ranged from 5 to 30 percent compared to average production history (APH).
“If you were at an 80 percent coverage, and you only had a 5 or 10 percent loss, you really didn’t come out ahead so to speak. So it really kind of put a bad taste in some of those guys’ mouths.”
But McVicker cautions any grower looking to scale back on crop insurance because she says it’s one of the best risk management tools available.
McVicker made these comments during Brownfield affiliate KNUJ’s Farm Forum last week.
Source - https://www.brownfieldagnews.com
