July 19, 2024

USPOULTRY Financial Management Seminar discusses leadership in workplace, market changes

The 2024 USPOULTRY Financial Management Seminar held in Destin, Florida, the United States, provided attendees with valuable information that is shaping today's business landscape. 

The programme offered insights ranging from cybersecurity legal ramifications to economic forecasts and leadership principles.

Dabbs Cavin, chief executive officer of Mountaire Corporation, discussed the significance of leadership in the workplace, expressing the importance of maintaining a positive culture within the work environment while in a leadership position and the value of trusting employees. 

When asked what makes a good leader, Cavin said, "Integrity is number one, two and three. You need to be willing to hire your weaknesses; people that may outshine you." Continuing with what he learned from his role as chief financial officer to now CEO, Cavin frequently mentioned how crucial it is to learn from different mentors.

"Find the people that you admire that have the qualities you'd like to have or maybe enhance the ones you already have," Cavin said. "That's a powerful tool."

As part of their presentation on cybersecurity, Melanie Ramey, senior associate at Eversheds Sutherland LLP, and Alexander Gross, chief business officer of CYPFER, spoke about the latest threat landscape and discussed trends, including generative artificial intelligence (AI), deep fake technology, ransomware and ChatGPT in the workplace. Gross highlighted how farms across the US are increasingly becoming targets of cyber-attacks, often in the form of ransomware, jeopardising animal welfare and disrupting the consumer supply chain, while Ramey gave an overview of some of the legal ramifications that may result from a cyber incident.

An economic update was provided by Mark Jordan, executive director at LEAP Market Analytics. He provided information on various economic factors, such as inflation, public debt, employment and agriculture.

While Jordan mentioned inflation is "cooling," it is still running comfortably ahead of long-term average levels. Regarding the agriculture market, Jordan noted an increase in corn and soybean production, that should result in cheaper feed costs for 2025. Protein demand is expected to ease from the "pandemic bubble" but remain elevated by historical standards.

- USPOULTRY