U of I’s Risk Manager Talks About Biggest Issues Facing Farmers

Earlier this year, Colby Field joined the University of Idaho’s Extension program as a risk manager. Filed will be based in Moscow, but will help food producers across the entire gem state. He said his goal in this new role is to try and develop either processes or government programs or private programs that allow to minimize risk.

“Because most farmers are pretty risk saturated and try to minimize as much risk as they can to get a little more predictability and what returns will be from their crops, from their animal production, whatever they're growing," Field said. "So, risk management is the methods and processes to try and minimize risk to your financial return usually.”

Field said farmers face a variety of risks that can put additional stress on the operation. So, what are the biggest issue producers are facing?

“So the big ones are you know, commodity prices, which is what you’re going to hear if you ask a farmer, what are you struggling with this year. My wheat is not worth anything this year is a pretty common one I'm hearing around the area. I'm in, wheat production area in north Idaho," Field said. "And then drought is one that's going to be in the back of the mind of a bunch of producers. And we've seen pretty consistent drought over the last, you know, 10-15 years in the last, so drought is a big one as well.”

Field added another struggle facing the farming community, handing the operation from one generation to another. For our entire conversation with Field, listen to the podcast below:

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