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Strategic Marketing for Your Farm’s Future - 2022 Virtual Workshop Series

Ed Farris

Summary

“Strategic Marketing for Your Farm’s Future” was held during February and March in 2022. It was designed to empower producers to make marketing decisions for their farming operation and communicate those decisions to the farm management team, key financial advisors, and family. This multi-session marketing course was offered online through a collaboration of Purdue Extension Educators and Specialists. This project received grant funding from North Central Extension Risk Management Education Center.

The five evening sessions addressed crop marketing strategies, tools available to assist with marketing, technical analysis of markets, diversification into niche markets, how to communicate decisions, and tools to address stress associated with marketing highs and lows. Seven supplemental videos were developed and made available to help participants to continue to build their skillset. The ultimate goal of the program was to enhance producers’ skills to address the highs and lows of the market, while supporting producer’s interpersonal skills and mental health.

Twenty-eight individuals registered for the Strategic Marketing for Your Farms’ Future program series. Primarily participants grew corn and soybeans, but other crops included alfalfa, barely, hay, hemp, wheat, and other small grains. In terms of livestock, participants raised beef cattle and hogs.

Survey results found that participants were implementing the basis as a marketing tool, monitoring local basis levels, and looking beyond local marketing opportunities. Participants were also planning to implement breakeven analysis, hedging strategies, and to study their opportunity cost/returns better.

Details

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