Jenny Ifft says successful cow-calf farmers are “risk experts.”
“They face multiple sources of risk every day,” said Ifft, agricultural policy specialist at K-State Research and Extension. “Forage production can vary greatly depending on the timing or amount of rain. If the market crashes the month before selling their herd, a producer’s profit could be wiped out.
Ifft is the guest speaker for a Feb. 23 session scheduled in conjunction with the four-part workshop, Risk Management Skills for Kansas Women in Agriculture, which began in mid-January.
His lecture is a fifth optional session added to the series, and it will focus on risk management for cow-calf producers. The session will be presented at 28 locations in Kansas, starting at 5:30 p.m. Registration costs $15 and is available online at https://www.agmanager.info/events/risk-management-skills-kansas-women-agriculture or by calling the Great Bend office at 620-793-1910 , or the Hays office at 785-628-9430.
LaVell Winsor, agricultural analyst with K-State’s agricultural economics department, said some of the topics discussed Feb. 23 include business budgeting, livestock marketing and cow-calf insurance options.
“It’s important for breeders to understand their cost structure because there is a wide range of production costs,” Winsor said. “Marketing is still essential, but with high feed costs (currently), it is especially important for cattle producers to watch for opportunities to make a profit.”
Ifft said cow-calf producers can also be strategic when considering insurance options. She notes that half of Kansas is currently facing a moderate drought and feed prices are volatile.
“Insurance products are available to help producers manage forage risk and price risk by providing payments when a producer’s local area is abnormally dry and when livestock prices are lower than expected” , she said.
Although the title of the series emphasizes the need for women to attend, the session is open to all participants, regardless of gender.
Sessions are scheduled for Atwood, Beloit, Clay Center, Colby, Dodge City, El Dorado, Emporia, Fort Scott, Grainfield, Great Bend, Hays, Independence, Iola, Jennings, Kiowa, Leavenworth, Leoti, Manhattan, McPherson, Paola, Sabetha, Salina, Smith Center, St. John, Stockton, Syracuse, Ulysses and Wilson.
Alicia Boor is the Agriculture and Natural Resources Officer at K-State Research and Extension – Cottonwood District. Contact her by email at aboor@ksu.edu or call 620-793-1910.
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