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.
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.
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.
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.
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.
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.
The current, protracted combination of low milk prices and the glut of milk products in the market place has stressed producers. The stress has built to the point that families are often at a loss to know what to say to each other, to their bankers and suppliers. At that point, it’s hard to know where to turn.
Rock Valley Hay Auction for Monday, Apr 23, 2018
Receipts: 34 loads Last Week: 14 loads Year Ago: 19 loads
Alfalfa: Good: Large Squares, 3 loads 157.50-175.00; Large Rounds, 4 loads 155.00-172.50. Fair: Small Squares, 1 load 190.00; Large Rounds, 2 loads 145.00-147.50. Utility: Large Squares, 1 load 70.00; Large Rounds, 1 load 100.00.
Grass: Good: Large Rounds, 2 loads 150.00-177.50. Fair: Large Rounds, 3 loads 120.00-122.50. Utility: Large Squares, 1 load 110.00; Small Squares, 1 load 125.00; Large Rounds, 1 load 112.50.
Alfalfa/Grass Mix: Fair: Large Squares, 1 load 140.00.
Oat Hay: Large Rounds, 2 loads 85.00.
Millet Hay: Large Rounds, 2 loads 75.00-80.00.
Straw: Large Squares, 2 loads 80.00-117.50.
Corn Stalks: Large Rounds, 7 loads 37.50-52.50.
Alfalfa guidelines (domestic livestock