The Center for Dairy Excellence will host the 2010 Dairy Lending and Risk Management Workshop at 11 a.m. on Tuesday, Oct. 26, in the Pennsylvania Farm Show Complex and Expo Center’s PA Preferred Banquet Hall in Harrisburg, Pa.
The event will be held in conjunction with the 11th Annual Crop Insurance Conference that begins at 8 a.m., hosted by the Pennsylvania Department of Agriculture, with funding from the Risk Management Agency.
"This workshop is specifically designed to help those in the lending industry better understand dairy risk management and the resources available to help their customers protect their price and margin risks," says John Frey, executive director of the Center for Dairy Excellence. "Anyone who works in lending or consulting with a stake in the financial strength and future viability of Pennsylvania's dairy farms should plan to attend."
Following the conference’s opening sessions about the importance of crop insurance and developments in dairy and risk management, Brian Rice from Rice Dairy LLC, will lead the dairy workshop with a discussion on the evolution and innovation of dairy risk management.
Katie Krupa, also from Rice Dairy LLC, will explain how to use current dairy risk management tools during the afternoon session, while Sam Miller, the senior vice president of agriculture and food banking at M&I Marshall & Ilsley Bank in Wisconsin, will discuss using hedge lines of credit. The three speakers work with dairy producers across the country to help them protect financial risks, and will share innovative approaches used today.
Alan Zepp, risk management program coordinator for the Center for Dairy Excellence, will review LGM for Dairy, a risk management tool available that can help Pennsylvania producers protect their risks. Approved by the USDA Risk Management Agency in August 2008, LGM for Dairy protects producers against unexpected declines in income over feed costs, or milk price minus feed costs.
"The dairy industry is changing rapidly, and risk management is an essential ingredient in any dairy farm business plan," Frey says.
The conference cost is $35 per person if registered by Oct. 19, or $50 the day of the workshop.
Source: Center for Dairy Excellence