An integrated educational program that combined classroom and hands-on experiences was held to teach Southeast cow-calf producers, extension agents, agricultural lenders, and veterinarians how to calculate breakeven prices that cover variable, total, and family living costs, provide price outlook, discuss market alternatives, and demonstrate how futures and options can reduce price risk. Case studies and marketing games were used inside the classroom to teach price risk management. Outside the classroom, producers improved their understanding of market grading and how calf quality affects market price. Follow-up meetings were held in each state to provide updated market outlook and management ideas. Overall eight producer meetings were held in the four state Southeast region. Also a two-day marketing and risk management school was held in each of the four states. The attendance was 470 for the producer meetings and 192 for the marketing management schools. As a result of this educational program, producers were able to calculate their breakeven price, form a reasonable price expectation, and implement a marketing strategy. Also, as a result of the programs attendees now collaborate more closely with extension agents, specialists, and industry experts in improving their risk management practices.
|Conference||2007 National Extension Risk Management Education Conference|