Extension Communications
3614 Administrative Services Building
Ames, Iowa 50011-3614
(515) 294-9915
7/30/99
Contacts:
James McKean, Iowa Pork Industry Center, (515) 294-4103
Sherry Hoyer, Iowa Pork Industry Center, (515) 294-4496
Two-part Financial and Operational Analysis Offered for Iowa Pork Producers
AMES -- The Iowa Pork Industry Center (IPIC), Iowa State University (ISU) Extension and the Iowa Pork Producers Association (IPPA) have teamed up to provide a two-part approach to help Iowa pork producers. The first step is having a FINPACK analysis completed at no charge. The second involves the possible option of taking part in a modified TEAMPork program visit at a reduced cost of $100.
James McKean, interim director of IPIC, said this program is a way for all producers to get an up-to-date, accurate look at their operations and, for those producers who want to stay in business, to use that information to make immediate modifications and establish longer term goals.
"This is a good time for all pork producers to assess their operations," McKean said. "FINPACK is an excellent planning tool and offers a great opportunity for producers to plan their financial management strategies."
FINPACK is ISU Extension's farm financial analysis program which consists of a computerized analysis of farm business records, one-on-one financial counseling and referral to other extension programs or outside services that might be useful. Sixteen extension associates throughout the state conduct the two-part sessions, which ordinarily cost $25 per hour. A grant from USDA, reallocation of ISU Extension funds and financial assistance from IPPA allow this service to be provided at no charge while funds are available.
Those producers who appear to have the resources for continued operation, based on their FINPACK results, are eligible to take part in a modified TEAMPork (Total Economic Animal Management) option. TEAMPork, an interdisciplinary group of campus and field extension specialists, will review existing operations and offer suggestions for low- or no-cost opportunities for short-term changes for producers on an individual basis. They'll also help producers develop an action plan for meeting their goals over the next three to five years, with operational areas to focus on as the current economic crisis eases. Accepted individual TEAMPork applicants ordinarily pay $250 for this service.
Organizers encourage all pork producers to consider taking part in this program, and say those who do will be better positioned for the future.
"If producers choose to stay in business and are ready to make changes or adjustments, we're ready and willing to help," McKean said.
To take part in this program, producers need to make arrangements with the extension associate responsible for FINPACK in their area. ISU Extension livestock field specialists can provide this contact information and are also available for consultation. Producers also can contact local county ISU Extension offices for FINPACK associate information. For more information on the TEAMPork portion of the program or to schedule a TEAMPork visit after the FINPACK stage, producers should call IPIC's PORKLine at (800) 808-7675.
Extension programs are available to all without regard to race, color, national origin, religion, sex, age, or disability.