Rock Rapids, 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 Rock Rapids.
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.
Dairy specialist Fred Hall with ISU Extension and Outreach says that the program is designed for dairy managers, but all those involved in production agriculture – livestock producers, crop farmers and agribusiness professionals that serve them – are welcome to attend and will find many parts of the program educational and relevant to their enterprises.
He says everyone in production agriculture is facing or will face shrinking margins. Dairy farmers are feeling it now, so this is geared to them, but many aspects of the presentations will be relevant to all agriculture industries.
It’ll be from 9:00 a.m. to 2:00 p.m. on Thursday, August 1st, at the Forster Community Center in Rock Rapids.
Key presentations include cash versus accrual accounting and how it will be affected by changes in the tax laws; using FINBIN and DHIA data to predict financial success on small-medium sized dairies; the value of a risk management strategy; and a dairy market outlook.
The program will also feature a panel of local agricultural lenders who will discuss what they look for in the future of ag loans and financial decisions.
Participants can register online at https://form.jotform.com/4Hregion1/planning-for-profitability, or by calling 712-737-4230. There is no fee to attend and lunch is provided; however, pre-registration is required by this Friday, July 26th to plan adequately for meals and materials.
For more information on this and other programs, contact Fred Hall at 712-737-4230 or fredhall@iastate.edu.
