Professor Receives Dairy Beef Risk Management Grant
By Melissa Klein
NOV. 26, 2007--Brenda Boetel, an agricultural economics professor at the University of Wisconsin-River Falls and a UW Extension livestock marketing specialist, has received a $100,000 risk management grant from the U.S. Department of Agriculture. The grant will be used to offer workshops for dairy beef producers in Wisconsin and Iowa.
The dairy beef market is somewhat different than the beef market, so risk management agencies defines this sector as an underserved commodity. Boetel explained that dairy beef producers operate on tight margins and are continually looking to improve the profitability and financial stability of their enterprise in the context of their overall farming operation.
Boetel noted that this is a large grant for UWRF. "Wisconsin has a large amount of dairy beef producers, and these workshops will be beneficial to teach producers better ways to manage their price risk."
The program will integrate production, marketing and finance education to show how they correspond with business management. Workshops will offer information on the unit cost of production, financial statements, forecasting and risk management strategies, as well as how to analyze seasonal price changes.
Boetel is the principal overseeing the grant project. John Lawrence, director of the beef center at Iowa State University, and Jeff Lehmkuhler, an animal scientist at the University of Wisconsin - Madison, will assist with the project. The trio will train the extension agents who will then present the workshops.
"The University of Wisconsin and Iowa State University extension [programs] have a prestigious reputation for delivering timely and relevant research-based information to producers and agricultural professionals," said Boetel.
There will be a variety of options for producers to gain the information, including scheduled workshops through the extension agencies. Another option is a two-day workshop on production, marketing and financial risk management topics. These workshops will be held on non-consecutive days, and producers will have the option to attend one or both workshops. A webcast presentation or weekly correspondence will also be offered to producers. Print materials will also be presented in farm publications to raise awareness of the topics and recruit readers to attend the workshops.
Plans are to have training for the county agents in late spring and have the workshops available for producers later in 2008.
For more information contact Boetel at 715-425-0702.
Thursday, 22-Apr-2010 16:08:41 Central Daylight Time
University of Wisconsin - River Falls