I grew up on my family’s dairy farm in southern Wisconsin. I remember when one of my older brothers started recording each cow’s calving information in a notebook.

What’s it worth? You might be surprised at the variety of items of which dairy nutritionists are asked to assess the value. Partially intact feed bins, antique farm equipment, crossbred bull calves and silo staves are just a few of the more unique ones on the list. More commonly, springing heifers, a gallon of liquid manure or the neighbor’s farmland may need a quick estimate.

Starting a risk management plan can be a daunting task for many dairy producers. You spend most of your time focusing on cow management – maximizing milk production, reproduction, cow comfort and cow health. You fix equipment, plan this year’s crop rotation and buy next month’s loads of cottonseed or hay. Suddenly, you’re being asked about your risk tolerance, futures contracts, long puts and short calls. It’s not an easy or natural transition for most.