A rapidly changing business environment has dictated a need for farmers to improve their risk management skills. The 1996 Federal Agricultural Improvement and Reform Act (FAIR) also created a new environment for American farmers by eliminating planting restrictions and deficiency payments....

Australian farmers operate in one of the most risky environment in the world. They have to cope with various sources of risk in their businesses. This paper reports results of two case studies undertaken to examine the issues of farming risks and risk management strategies in Australia. The...