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Virginia Regional Market Analysis and Outlook utilizing the Internet as an Interactive Delivery System

Michael Roberts

Summary

The Virginia Regional Market Analysis and Economic Outlook Seminars Utilizing the Internet as an Interactive Delivery System, called the Outlook Project, was designed to deliver timely and relevant risk management information to producers, Extension educators, and agricultural community influencers consisting of lenders, input dealers, and agricultural commodity processors. The Outlook Project’s three main objectives were to provide information so: producers could make sound risk management decisions; Extension educators and Ag. influencers could help clients make sound risk management decisions; extremely limited Extension program delivery resources could be leveraged.

Changing commodity fundamentals, large speculative influences, and higher input costs have producers, extension educators and agricultural community influencers scrambling for ways to increase agricultural prosperity. Beginning in 2006, this project utilized the internet and other interactive communication tools to bring risk management education to participants. Remote and on-site presentations were made by agricultural economists and experts from many states. Remote presentations were fully interactive with presenters in real time. Presenters included extension educators from land grant Universities, the Federal Reserve Bank of Richmond, Virginia, various agribusiness community influencers, and South America. Evaluations via survey, focus groups, as well as personal contact show that the majority of participants are very accepting of this type of extension program delivery method. Over 500 producers have been reached. Savings in speaker travel costs total over $68,405.00. Participants reported increased net profits in excess of $1,576,616.50 over the last three years as a direct result of attending one or more seminars.

Details

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