Even with milk prices trending up and 2020 looking to be be even better, there is lots of uncertainty still in the marketplace. Continuing weather issues, trade and tariff issues plus forage quality and availability all weigh heavy on producer minds as they struggle to finish the 2019 season.
With cow numbers moderating and storage levels slowing or declining, there is the expectation that milk prices will continue to improve. Current domestic consumption seems to be holding but there’s lots of signals out there that point to a decline in the global and USA economic health. A recession in this county would certainly but the damper on things. If negotiators could build a lasting deal for exports, the future would make a dramatic turn-around.
Agricultural lenders will receive current useful, research-based information during the Siouxland Agricultural Lender’s Seminar on Thursday, Nov. 7 with registration at 8:45 a.m. and programing from 9:00 a.m. to 3:45 p.m. at the Triple Box near Orange City. The seminar will present current information to assist lenders and farm financial advisors in their portfolio management, which is especially important in this era of continued market variability.
Planning for Profitability program for farmers and agribusinesses
One-day program will focus on planning ahead while facing shrinking margins in production agriculture
ORANGE CITY, Iowa – Iowa State University (ISU) Extension and Outreach invites local farmers and agribusiness professionals to attend a free one-day Planning for Profitability workshop in either Rock Rapids or Decorah.
The I-29 Moo University is hosting a webinar on Thursday, December 20 that will focus on preparing the information that lenders will ask for. The “Improving Conversations With Your Lender” webinar will outline and explain the banking benchmarks and financial documents that lenders need to evaluate loans. The webinar is scheduled for 60 minutes beginning at 11 a.m. and will include time for questions at the end of the webinar.
At the Siouxland Agricultural Lenders Seminar on November 1, we surveyed the participants on what they were seeing in their ag loan portfolios in light of the current ag economy. The 58 attendees were from five states represented 20 lending institutions and 13 other ag industries. More importantly they represented service to over 500 dairies, 317,725 milking cows and 108,400 acres producing feed for those cows.
Ag lenders from across Iowa, Minnesota, Nebraska and South Dakota heard top professionals in commodity markets, weather prediction, enterprise evaluation and federal policy share their insights on November 2 in Rock Rapids, IA.
Forty-one lenders from four states, representing 14 lending institutions plus four other industries attended. From those that returned program evaluations their attendance translated to 65 dairies, 69,725 milking cows and 97,400 acres producing feed for those cows.
The deadline to register for the Siouxland Dairy Lender’s Seminar is Friday, October 27. The seminar will be held on Thursday, November 2 at the Forester Community Center in Rock Rapids, Iowa. Lenders who serve agricultural clients and especially lenders who work with dairymen in Iowa, Minnesota, Nebraska and South Dakota are encouraged to attend. This year’s focus is on market outlooks for livestock, grains and dairy, long-term weather influences for agriculture plus dairy finances and ag policy.
The list of nationally recognized presenters include; David Oppedahl, Senior Business Economist, Federal Reserve Bank of Chicago presenting “A Fed’s Look at Dairy Economics”; Larry Tranel, ISU Extension Dairy Specialist presenting “Millionaire Model Dairy Farms”; Chad Hart, ISU Extension Economist presenting “Commodity Market Review and Outlook”; Harry Hillaker, Iowa Climatologist presenting “Agricultural Weather Outlook”; and Robert Tigner, UNL Extension Educator presenting “Dairy Market Review and Outlook”.
The cost of the program is $80 for the first person from an institution and $50 for each additional person that have made the registration by October 27. After that date, including at the door all registrations will be $100 and will not include the lunch. The program begins with registration at 9 am, with programs running from 9:30 am to 4 pm. To register, contact the Sioux County Extension office at 712.737.4230 or email Fred M. Hall at firstname.lastname@example.org for registration information.
For over a month I have been working on the first Siouxland Dairy Lenders Seminar in November and have talked to lots of lenders; most are excited to have this program in their “backyard” and like the idea of getting the most current market updates and perspective from industry leaders. But they also pointed out that as they progress toward annual reviews with borrowers, there are things that dairymen can do before the meeting that help make the annual task move smoother.
All agricultural lenders will receive useful information during the Siouxland Dairy Lender’s Seminar on Thursday, November 2 at the Forrester Community Center in Rock Rapids, Iowa. Lenders who serve agricultural clients and especially lenders who work with dairymen in Iowa, Minnesota, Nebraska and South Dakota are encouraged to attend. This year’s focus is on market outlooks for livestock, grains and dairy, long-term weather influences for agriculture plus dairy finances and ag policy. The program begins with registration at 9 am, with programs running from 9:30 am to 4 pm.