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.
Continue reading “Annual Ag Loan Reviews Are Right Around The Corner”
Registration Now Open for Upcoming Seminar
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.
Continue reading “Siouxland Agricultural Lenders Seminar Nov. 7 near Orange City”
Dairy producers and others involved in production agriculture are reminded that registration for the Financial Impairment on the Farm Webinar and the Planning for Profitability program closes Friday, July 26. Iowa State University Extension and Outreach Dairy Specialist Fred M. Hall says that both programs are being hosted at no charge to participants. Producers and personnel from agribusinesses are welcome to register for one or both of these educational programs.
Continue reading “Registration for Financial Impairment on the Farm webinar and Planning for Profitability program closes Friday, July 26”
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.
Planning for Profitability in a Changing Dairy Industry will focus on options to increase profitability when facing shrinking margins; risk management strategies and how they can benefit dairy operations; changes and requirements that ag lenders may be asking for when reviewing loan requests; and a review of the milk market. Continue reading “Planning For Profitability Program Set for Aug. 1 in Rock Rapids”
The May 10 World Agricultural Supply and Demand Estimate report has milk production for 2020 forecast higher than 2019. Dairy herds are expected to begin to expand as producers respond to higher milk prices and lower feed costs. Milk per cow is expected to continue increasing, and the forecast also reflects the one extra day due to leap year.
Continue reading “WASDE Predicts Milk Production and prices Up for 2020”
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.
Continue reading “Time To Visit Your Lender? Things You Should Prepare For Before Walking Into That Meeting”
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.
Continue reading “Area Ag Lenders Tightening Up on Loans According To Survey”
The Dairy Directions Seminars are scheduled for Tuesday, Dec. 11 in Sac County and Wednesday, Dec. 12 in Pocahontas County. Both programs will be held at the local Iowa State University Extension and Outreach county office.
Registration starts at 9:00 a.m. and the program begins promptly at 9:30 a.m. A free lunch is included, and the program will adjourn at 1:45 p.m.
Continue reading “Dairy Programs set for Sac and Pocahontas Counties in December”
USDA in conjunction with its Risk Management Agency recently unveiled the Dairy Revenue Protection (Dairy-RP) program, which is designed to insure against unexpected declines milk sales on a quarterly basis at a guaranteed coverage level. The revenue will be based upon futures prices for milk and dairy commodities with the coverage level elected by the producer.
The I-29 Moo University and Minnesota Milk are co-hosting a webinar – Dairy Revenue Protection: How to Make 2019 an Upside-Only Year, to help explain the details of the program and how producers can participate to help influence the outcome of their individual bottom line break-evens. Dr. Marin Bozic, Assistant Professor in Dairy Foods Marketing Economics in the Department of Applied Economics at the University of Minnesota will be presenting the information on Tuesday, October 23rd from 12:00 p.m. – 1:00 p.m. (CDT) during a webinar. To sign-up to participate in the webinar go to https://bit.ly/2NwW6eF to register and receive a direct link for the webinar.
Continue reading “Dairy Revenue Protection Program and Webinar Offered”
August Survey Results at a Glance:
* For a seventh straight month the overall index rose above growth neutral.
* Bankers reported a decline in the sale of agriculture equipment and expect sales to decline by another 7.8 percent over the next 12 months.
* More than one-half of bankers supported cutting recently enacted tariffs.
* In reaction to weak farm commodity prices and income, almost one-third of bank CEOs reported rejecting a higher percentage of farm loans.
Continue reading “Creighton University Rural Mainstreet Index Rises for August”