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Implementation of Risk Management Strategies by Beginning Beef Producers: A Comprehensive Approach

Stacy Hadrick

Summary

This program is designed to help beginning farmers and ranchers navigate the complicated current business environment. All five areas of risk management will be covered over the 18 month intense interaction with an expected 30 participants from 20 separate operations. There will be three interactive workshops with the participants that will be held throughout the state of South Dakota. Two of the workshops will be centered around established successful beef producers who will serve as case studies with different emphases on production. This will provide participants experience in different production models, marketing strategies and risk assessment. The third face-to-face workshop will be centered around livestock and crop marketing from developing a marketing plan through implementing tools and strategies. We will conduct individual consultations with participants to develop specific goals, business and marketing plans. Location of the consultations will be dictated by the participants which may include visitations to their operations. In between face-to-face meetings, webinars will be held to maintain participant interaction. Expected risk management achievements will be substantial since there is intensive focus on each individual and their business. The program is designed for outcome based results and set up for long term impact.

Details

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