I practice hitting the bag twice a week also, I practice swinging in air. That has nothing to do with what I am talking about losing the cane. It's when you expect to hit and miss, or you don't expect to hit and hit something on the way to your target. You are not prepare for it.
Like I said, I do enough exercise on strength. I do grip exercise every week also. I have decent grip strength compare to a lot of other people in the gym. I can only do 6 to 7 body weight pull up(175lbs), not because of my grip, my arms are the limiting factor. For grip, I can easily hang another 40lbs to 50lbs on my body and I can hold on to the bar hanging.
Problem is you do not squeeze the cane from beginning to the end of the striking arc. That will slow you down. It's like punching, you do not tighten your muscles until the point of hitting. You relax before and after the focus point. So if you hit something unexpected or miss what you try to hit, you don't necessary squeeze the cane tight away from the focusing point.
This open up a totally different can of worms.
Be aware of losing the cane by accident. It happens to the best. One of the expert here Lamont Glass ( aka Blindside here) even showed he lost his cane in the match. Look at 6:17 here:
Like I said, it's not big deal to lose the cane in a competition, but it's life and death in self defense situation. Particularly when you are nervous. I play it save, I put a loop around my wrist. I have been practicing without the loop at home, it's been months since I lose my cane. But I don't take any chance.
Also, I swing with two hands, I use a cane that is 20oz with a big foot to make it tip heavy. There's a lot of momentum to pull the cane when swinging. It's not like the rattan escrima sticks that are only about 7oz. I use a fiber filled Nylon cane.