Managing risk seminars set for pork producers
SHELDON – A risk management seminar for pork producers is set for Dec. 6, at the Northwest Iowa Community College, U.S. Highway 18 West, Building C, Room 149, in Sheldon.
Volatile ag markets, high input costs and rising capital requirements for farming operations, illustrate the need for effective risk management by pork producers.
The Iowa Pork Industry Center, Iowa Pork Producers Association and Iowa State University Extension swine specialists are teaming up to offer regional risk management educational seminars for producers and allied industry representatives in early December, including the Sheldon meeting.
Sessions will be held from 11:30 a.m. to 4 p.m. There will be an optional 9 a.m. session at each location to review the basics of hedging, options, insurance and other risk management tools.
The early session will be hosted by Shane Ellis, ISU Extension livestock marketing specialist.
Seminar speakers and their topics include:
- John Lawrence, director of ISU agriculture and natural resources, will speak about understanding the magnitude of risk facing today’s farmers.
- Chad Hart, ISU assistant professor of economics and Extension grain marketing specialist, will look at big picture issues affecting feed and livestock prices.
- Mark Greenwood, vice president of agri-business capital for Ag Star Financial Services, will cover the more critical components of a successful risk management strategy.
A local producer, one with proven success in risk management, will explain how to implement risk management based on crush margin.
An ISU swine specialist will be on hand at each location to discuss how to apply lessons learned from the day’s session, make tools available for implementing change and describe small group sessions for further risk management education opportunities.
Seminar cost is $10 per person when preregistered or $15 at the door. Lunch and meeting materials are guaranteed for those preregistered. For more information contact Tyler Bettin at IPPA at (800) 372-7675.
For those interested in additional information and hands-on practical application of risk management tools, a series of in-depth small group sessions will be held throughout the winter months in a local office space and risk management experts will be available through an online connection to share a short mini-topic and answer specific questions.
Economic risk management specialists from ISU University and University of Missouri will be available for these online connections.
Educational material from the board of trade will be used to refresh attendees’ knowledge about the application of risk management tools. A simulated account will be set up for small group participants to “practice” real-time risk management strategies. Homework assignment will help participants know their feed costs, total production costs and crush cost.
Six small group sessions will be held from 1 p.m. to 3 p.m. on selected dates from Dec. 13 through April 10, with locations to be determined based on participant registration. Cost is $20 per person, and attendance at a regional seminar is not required to participate. Registration for this small group series can be made at any of the regional seminars.