Rating market advisors

[dirtgirl]

Our farm subscribed to a marketing service last year (not Farmlink). I didn't feel it was great value and we will not renew. We paid a large fee for this service and can't really see how it added value to our operation. Other more inexpensive market letters provided good information that would have been just as beneficial. In the end no one cares more about the grower's bottom line than the grower. Having too much reliance on an advisor just means that you never figure it our for yourself.

The most recent issue of Grainews focuses on marketing. One market advisor says that to do a decent job of marketing requires at least 20 hours a week. Marketing does take time, but 20 hours a week? Come on, thats over 1000 hours a year or 130 eight hour days. Give me a break. That could only be writen by someone selling a marketing service!

[dirtgirl]

Our farm subscribed to a marketing service last year (not Farmlink). I didn't feel it was great value and we will not renew. We paid a large fee for this service and can't really see how it added value to our operation. Other more inexpensive market letters provided good information that would have been just as beneficial. In the end no one cares more about the grower's bottom line than the grower. Having too much reliance on an advisor just means that you never figure it our for yourself.

The most recent issue of Grainews focuses on marketing. One market advisor says that to do a decent job of marketing requires at least 20 hours a week. Marketing does take time, but 20 hours a week? Come on, thats over 1000 hours a year or 130 eight hour days. Give me a break. That could only be writen by someone selling a marketing service!

[dirtgirl]

Not sure how I managed to post that twice!

[seabass]

We also subscribe to a market advisor. So far my experience is mixed. I don't believe someone should give advice to someone if they have never actually met the person they are advising. How can they know a persons situation if they don't know the farm, the area,the farms finances and the persons tolerence for risk. I believe there is way more to it than telling someone to hold or sell there crop. You really have to know the person well. Conversing on the phone or over the internet doesn't cut it. I have yet to find an adviser that is willing to go to them lengths for my business.

[norton17]

We've used a couple different advisors...and havent had much luck with any.

Were with cargill, farmlink, etc...and by listening to these "experts" and paying thousands of $$$ we maneged to avg less than most of our neighbors on $/bus on canola, peas and wheat.

Get a free newsletter and you are as far ahead.
Remember, get as much info as you can...but not to the tune of $20,000 b/c there is no guarantee that any of these "market experts" know any more than you do.

[gustgd]

Our Farm also did subscribe to a marketing service (Cargills Market Sense) We were with them for three years and through 4 full time advisers and a couple fill in guys. Just when we had a guy trained up they would either transfer within, or out of Cargill.
Relationships and trust are a major part of the industry.
We did not pay for crops they did not handle ie:lentils and mustard even though we asked our guy what he was seeing in his travels and talks.
Also we did not pay to have them tell us to leave Durum in the pool.
They did advise selling some fixed price when it was at $5.75 for the 09 crop year. ( We never did because the PRO was over $7, showing the uselessness of the PRO and the marketing genius of the CWB)

If you don't already know your cost of production go to http://www.agriculture.gov.sk.ca/crop-planning-guides
or use $185.00: $200.00 you will be pretty close.
What we do now is the Kostal newsletter and wild oats for a slightly different view. as well as all the freebies some get read some don't

I don't think we will go back to the full service marketers for a while as
a) We don't follow advice as closely as we maybe should.
b) most of these advisers are base hitters which is good long term, but I think most of them are still learning how to manage today's volatility.
c) It's allot of work to keep the sales up to date in their systems, and keep up my end of the bargain on all of the reading that is required to make informed decisions.

84% of people think they are better than average marketers!!!

"72% of statistics are made up 27% of the time" Homer Simpson

[cottonpicken]

Best advisor i know is pillypilsner.lol

[mbratrud]

As a market advisor and a farmer, I will say that this is not a service that is easy to show value in 1 year.

I will be the first to admit that I am far less than perfect. But as my client relationships ripen 5 years I know their farms as well as they do. I know what their marketing tendancies are, and develop their strategy around their style.

Short term relationships are a crap shoot, it's not uncommon to have a bad experience on the first year, if a market is called wrong or there is a communication break down.

What producers have to realize is the service has to be a two way street. The farmer has to "buy in". They have to seek the information a bit until the advisor learns what the farmer wants.

The other key to marketing advisors is to build a relationship with your local buyers, It really needs to be a 4 way relationship between The Advisor, Producer, Buyer, and Futures Broker. The last thing you want is the buyers working against your advisor. I know I have talked to some buyers who will not give another advisor the time of day.

Farmers that are skeptics about advisors should not hire them... If they simply look at what is done wrong they will not be happy with any advisor. If your looking at an advisor, look for someone who you are willing to give a couple years to prove themselves, and that has a good relationship with all your potential buyers.

Some Advisors shoot themselves in the foot because they charge a fee that they cannot deliver on. Especially for the first year or 2 the advisor should be prepared to work for a bit less to prove themselves. I also believe that no farmer should hire anyone for full service marketing that is more than 2 hr drive away.

It is also important to know how many clients the advisor is trying to provide fullservice for. Any more than 10 they are not doing a good job.


beings it's fair game to post our links on here...

www.bratrudag.ca

[cottonpicken]

Mark,didnt know you where doing that.
We could have been having some livley market discussions.

[mbratrud]

Be hard to charge anyone if I shared all my market thoughts on here. I have been doing this for about 5 years now, a little more under the radar than my competitors though. But now CP your really pissing me off because the person I thought you were would have known that.