A series of workshops are set for southeast Wyoming and the Big Horn Basin to help agriculture producers learn about mitigating increased risk in their operations.
Risk Management Marketing, Serving Farmers and Ranchers through Targeted Risk Management Education, will teach crop producers with limited knowledge of alternative commodity marketing strategies how to use price and financial risk management tools to improve marketing positions for their crop enterprises.
The workshop, sponsored by the Wyoming Business Council, is comprised of four sessions and will take place at Eastern Wyoming College Dec. 1 and 13, and Jan. 5 and 12. In the Big Horn Basin the same courses will be held during WESTI Ag Days in Worland on Feb. 7 at the Extension Office and in Powell at Northwest College on Feb. 21 and 29 and March 15.
The registration fee is $125 and includes lunch as well as the text book Applied Risk Management in Agriculture. College credit may also be obtained by successfully completing all sessions.
Participants in the workshops will gain improved understanding of market volatility and the reason markets change; will complete breakeven worksheets and determine profitability objectives; commit to performing a risk management marketing plan; attend workshops to complete marketing worksheets; participate in group marketing discussions and apply marketing principles for their specific operational needs; develop marketing plans that will describe how to utilize cash markets and cash contracts; and utilize risk management tools such as insurance, hedge trades, options, carry markets, and others to ensure sustainability of their production.
For more information, contact Randall at 307.777.6578 or email donn.randall@wyo.gov.