December 15, 2005

Workshop Dates Set for Drought Recovery and Risk Planning for Livestock Producers

Livestock producers are invited to participate in workshops on drought recovery and risk planning set for January. The workshops are sponsored by land-grant universities in the northern Plains (North Dakota State University, Montana State University, South Dakota State University and the University of Wyoming), National Crop Insurance Services and the USDA’s Risk Management Agency.

The purpose of the workshops is to assist livestock and forage producers in the northern Plains with development of personalized risk management plans. Many of these producers have sustained drought for several years. The workshops will address drought-related issues affecting the cattle cycle, feed resources, risk management tools and financial management strategies.

Registration begins at 8:30 a.m., with the workshops running from 9 a.m. to 4 p.m. A $20 registration fee, which covers materials, lunch and break refreshments, will be collected at the sessions.

Dates and contacts for the workshops are:

• Jan. 16: Minot, N.D., Mike Rose, (701) 857-6444
• Jan 17: Hettinger, N.D., Dan Nudell, (701) 567-4323
• Jan. 18: Mobridge, S.D., Clint Clark, (605) 273-4368
• Jan. 19: Ellendale, N.D., Eugene Elhard, (701) 349-3249
• Jan. 20: Huron, S.D., Kevin Vaith, (605) 353-8436

Topics addressed during the workshops are:

• An overview of the cattle cycle
• Implications of alternative consumer demand scenarios
• Formation of short- and long-term herd management strategies
• The economic and financial impact of alternative production plans
• Strategies for managing herd size during different parts of the cattle cycle
• Economics of buying feed vs. herd reduction
• Rebuilding the forage base or herd
• Managing risk during the rebuilding process
• An overview of crop insurance and risk management
• Livestock risk protection and livestock gross margin
• Group risk plan and group risk income protection
• Crop insurance plans for forage, pasture and rangeland
• New marketing opportunities
• Overview of financial management
• Using individualized records for analysis and planning
• Sources of financial information
• Modifying financial plans as conditions change

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

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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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