Dairy Revenue Protection Program and Webinar Offered

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.

Webinar Offered…

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.

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Creighton University Rural Mainstreet Index Rises for August

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.

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July Webinars Will Help Producers Deal With Financial Stress Issues

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.

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Weekly Hay Auction Report

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

First Siouxland Dairy Lenders Seminar Is In The Books

 

 

UNL Agriculture Systems Economist Robert Tigner makes the point on how many dairymen do not use the risk management tools available to them.

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.

Registration Deadline For Dairy Lenders Seminar Is Oct. 27

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 fredhall@iastate.edu for registration information.

Steps For Being A Good Ag Borrower

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.

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Siouxland Dairy Lenders Seminar Set For Nov. 2

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.

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Chicago Federal Reserve Sees Some Slow-down In Farm Economy Free Fall

Chicago Federal Reserve Sees Some Slow-down In Farm Economy Free Fall

In their August Agletter the Federal Reserve Bank of Chicago says surveyed ag bankers believe the ag sector may be close “bottom” and ready to bounce back.

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Financial Education for Dairy Producers offered Aug. 16 in Orange City

Iowa State University (ISU) Extension and Outreach will host “Who Wants to Be a Millionaire? Dairy Edition,” a class geared towards helping dairy producers improve their financial knowledge and bottom line. The class will be held on Wednesday, Aug. 16, from 9:30 a.m. to 11:45 a.m. at the ISU Extension and Outreach – Sioux County office in Orange City.

ISU Dairy Specialist Larry Tranel will present enterprise analysis and information on the Millionaire Model Farm, milking system upgrades including robots, and information on organic and grazing dairies.

Northwest Iowa Extension Dairy Specialist Fred Hall will also share updated information relevant to the drought. He and Tranel will both be available to answer questions.

Hall said that the remainder of the meeting will be somewhat informal and will be driven by the interests and needs of those dairy producers in attendance.

“Dairymen and women who attend will receive information on a variety of financial topics useful for all dairies,” Hall said. “There is no fee to attend, but interested individuals must pre-register by Aug. 14.”

To pre-register for the meeting, contact the ISU Extension and Outreach – Sioux County office at 712-737-4230 or email Hall at fredhall@iastate.edu.