Bob Wells and Jim Jensen, Field Specialist Farm and Business Management, Southeast Area
Effective communication of the changing dynamics in Iowa agriculture has become an ever greater challenge as grain and livestock prices, input cost and land values face rapid increases and the risk associated with production agriculture rise dramatically. Agriculture lenders and ag professionals need access to research based information on changes in Iowa agriculture, timely forecast of outlook information and new emerging risk management strategies to manage not only their risk, but that of there client base (producers).
To reach the broadest cross section of lenders and ag professionals, SE Iowa farm management field specialist held four Pro-Ag Outlook seminars in November of 2007. These seminars held in Mt Pleasant, Oskaloosa, Amana and Maquoketa were attended by 186 participants. The audience consisted of Ag Lenders, USDA County Directors, Ag Professionals working for input suppliers, producers and land owners. Each outlook seminar included campus specialist in grain and livestock market outlook, and field specialist presenting strategies to effectively manage cost and revenue margins in todays environment. Additionally, at the Amana meeting, a session on the current state of progress on the new farm bill and the bio-economy was presented.
Ag lenders, Ag Professionals, USDA personnel, producers and land owners learned the latest forecast of agriculture prices during the grain and livestock outlook sessions. Comments made by participants included, this is the only source of unbiased information I have, a good program, lots of information, and I have a better feel for where we are headed. One result of the meetings was a request for additional meetings on strategies for managing margins for SE Iowa bank customers. The meetings generated many follow up e-mails and calls for additional information, including the use of AgDM risk management tools introduced at the meetings.
120 Farm and Business Management
121 (a) Risk Management Education (Farm)
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June 13, 2008
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