Community Agriculture Alliance: Economic, management tools to help farmers, ranchers
For Steamboat Pilot & Today
In December, I wrote an article about the many challenges facing farmers and ranchers across the country. Those challenges include ever-increasing land values, growing costs for equipment, fuel and other inputs. Farmers and ranchers taking on more and more debt to cover these rising costs is also a challenge. These challenges, exacerbated by a trade war with China and record-setting, late-spring moisture events in the Midwest, have made the prospect for paying back that debt even more difficult.
Because farmers and ranchers are price takers, meaning they get paid what the open market says their products are worth and have little opportunity to alter that in any way, it may seem that there are few opportunities to overcome the many challenges being faced. That isn’t always the case, however.
There are economic and management tools producers can use to help their situation and ways to make market fluctuations and changes work for them. Funded in partnership with the U.S. Department of Agriculture Risk Management Agency, the Colorado State University Extension Agriculture and Business Management team will present two programs next month designed to assist farmers and ranchers in managing these difficult financial times in agriculture.
The Financial Management Strategies program will cover topics including risk management, business planning, enterprise budgeting, record keeping, interpretation of financial statements and selecting farm financial software.
The program will be hosted by Agriculture and Business Management economists, Jenny Beiermann, Dr. Brent Young and Dr. Norm Dalsted. This program will be offered March 11 in Steamboat Springs. For more information and to register, visit 2020fms.eventbrite.com. The cost of the program is $15 and includes lunch.
On March 12, the 2020 Ag Outlook & Strategy Forum program will cover topics including market outlook, breakeven analysis, using commodity insurance as a part of a comprehensive marketing plan, using futures and options to manage risk and cross hedging weaned calves.
The program will be hosted by Agriculture and Business Management economists Young and Beiermann. For more information and to register, visit 2020agoutlook.eventbrite.com. The cost of the program is also $15 and includes lunch.
Tough times increase the need for farmers and ranchers to be educated in a way that helps them weather the storm, and these two programs will do just that. Register today or call local Routt County office at 970-879-0825 for more information.
Todd Hagenbuch is the director and agriculture agent for Colorado State University Extension office.
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