Farmers have to deal with varying weather conditions, but few know how to build that experience into a marketing plan. Two one-day courses will help producers do that, as well as use other advanced marketing tools, according to a Texas AgriLife Extension Service economist.
The two short courses, “Identifying Weather Risk and Incorporating it into Your Marketing Plan" and “Advanced Marketing Tools and Strategies for Producers,” will be held Feb. 23 and Feb. 26, respectively, at the Texas AgriLife Research and Extension Center in Amarillo, 6500 W. Amarillo Blvd.
“There are just two chances left to attend some of the best educational programming in risk management programs I have ever put together,” said Dr. Steve Amosson, AgriLife Extension economist in Amarillo.
Both courses run from 8:30 a.m. to 3:30 p.m. The registration fee is $75 for each course, which includes the cost of instruction, materials, lunch and breaks. Registration is limited to 50 participants on a first-come basis, so pre-registration is required, he said.
“This is a great opportunity to gain some market insights from nationally known experts,” Amosson said. “They are two of the most popular speakers on the Master Marketer program. I guarantee that attendees will leave impressed and fascinated by what they have to say.”
On Feb. 23, Dr. Elwynn Taylor, Iowa State University Extension climatologist, will provide insight into weather patterns and how to integrate weather expectations into marketing plans.
Weather is always a critical factor in the success of a farm operation, Amosson said. In Taylor’s course, participants will gain a better understanding of how to identify long-range weather patterns and their potential effects on crop yields.
Taylor will share his unique approach to incorporating weather and market risk into a marketing strategy, Amosson said. Yield trends, a balance sheet approach and the use of growing degree days will be discussed, as will the effect of high temperatures, low precipitation and evaluating stress impact.
“Elwynn is recognized as one of the leading climatologists dealing with agriculture,” Amosson said. “I know participants will be fascinated when he explains long-run weather cycles and how you can predict weather events.”
The final course offering in the Advanced Topic Series will be held on Feb. 26 and taught by a popular Master Marketer speaker, Darrell Holaday, a private marketing and management strategist from Kansas.
“In Holaday’s course, you will learn some of Darrell’s favorite marketing strategies and gain an understanding of how and when to utilize some advanced marketing tools such as covered calls, storage hedges, synthetic options and index-funds swaps to improve your marketing,” Amosson said.
In addition, Holaday will spend time improving attendees’ understanding of the intricacies of the new marketplace including money flow, participants and the impact of electronic trading, Amosson said. Finally, he will discuss flexible marketing strategies and selective hedging.
“Darrell was manager of the Kansas Ag Marketing Association for Farm Bureau before starting his own firm. He brings in a world of experience and people will be impressed with his knowledge and passion for marketing,” Amosson said.
Checks and money orders should be made payable to Texas AgriLife Account #222100-60021 and sent to Texas AgriLife Research and Extension Center, attn: Jane Planchon, 6500 W. Amarillo Blvd., Amarillo, Texas 79106-1796. For credit card payments, go online to register at http://agrilifevents.tamu.edu.