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May 13, 2005

Livestock Business and Risk Planning Workshops Set

Livestock producers are invited to participate in a two-day business and risk planning workshop set for Watford City on May 31-June 1 at the McKenzie County Courthouse meeting room and June 2-3 at the First Congregational Church basement in Hettinger.

The focus of the workshops is the application of basic principles of business, risk and financial management specific to livestock and forage producers in the northern Great Plains. The workshops will go from 9 a.m. to 4:15 p.m. each day.

Topics addressed in the workshops include:

  • A 10-step process to organize risk management decisions
  • Risk recognition and response
  • Making financial statements work for you
  • An introduction to crop insurance
  • Practicing principles of business and financial planning
  • Addressing human resource issues on the farm
  • Commodity price outlook and changes in the industry
  • An overview of the new livestock risk protection insurance program

The workshops are sponsored by South Dakota State University, Montana State University, North Dakota State University, National Crop Insurance Services and the USDA Risk Management Agency.

Presenters at the workshop include Harlan Hughes (NDSU, retired), Matthew Diersen (SDSU), Duane Griffith (MSU), Laurence Crane (NCIS) and Cole Gustafson (NDSU).

There is no fee for the workshop, but participants are asked to pre-register so adequate materials are available. To register for the Watford City workshop, contact Dale Naze, McKenzie County Extension Service agent, at (701) 444-3451 or e-mail dnaze@ndsuext.nodak.edu. For the Hettinger workshop, contact Jesse Handegard, Adams County Extension Service agent, at (701) 567-2735 or e-mail jhandega@ndsuext.nodak.edu.

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Source: Cole Gustafson, (701) 231-7096, cole.gustafson@ndsu.edu
Editor: Rich Mattern, (701) 231-6136, richard.mattern@ndsu.edu


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