; JRhodes0686_01
Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out
Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

JRhodes0686_01

VIEWS: 1 PAGES: 41

  • pg 1
									 Risk Management
Programming on the
  Eastern Shore of
      Maryland:
Identifying needs and
    using a team
      approach.
University of Maryland Extension
               TEAM
Jenny Rhodes –Queen Anne’s Co.
  Shannon Dill – Talbot County
     John Hall – Kent County
Sudeep Mathew – Dorchester Co.
       Extension Educators,
 Agriculture & Natural Resources
    Wes Musser, College Park
 Professor & Extension Specialist,
        Farm Management

   University of Maryland Extension
                  Jenny Rhodes
                   Shannon Dill
                     John Hall
              Extension Educators,
         Agriculture & Natural Resources




University of Maryland Extension
                               Why?
•Grain prices received by U.S. farmers doubled and tripled in 2007
•Unfortunately, Delmarva farmers did not prosper in 2007 due to a
widespread drought and reduced yields.
•The effect of increased grain prices created a wave of increased costs to
our farmers.
• Crop inputs have sky rocketed with equipment, fertilizer, seed and fuel
prices doubling and tripling.
• Landowners heard of this new prosperity and they also wanted a part in
the “profits
•As a result, land rental rate increases are being proposed and disputes
between landlord and farmer are increasing.
•Grain prices have since decreased due to the downturn in the stock
market causing many farmers to reevaluate their budgets, rental
agreements, and marketing plans
                  Why?
• Survey 2006
  – Queen Anne’s County Farmers
    • Average acres owned – 302.43
    • Average acres rented - 491.46
  – 62% Rented
• Results from Surveys
            Who?
       Target audience:
Bankers, Farm Loan Specialists,
  Farm Service Agency staff,
   Farmers and Landowners
                When?

December 2008
 Taught Bankers and Farm Loan Specialists
    Send their Clients and Customers
January – February 2009 & 2010
 Held series of workshops to teach farmers
    and landowners
•Crop Budgeting
•Communication
•Leasing
•Crop Insurance
•Grain Marketing
•Excel for Farmers
•RightRisk
 University of Maryland Extension
 Surviving the Risk:
   A look at lease
agreements, budgets,
marketing and more!
                   Jenny Rhodes
                    Shannon Dill
                      John Hall
                  Sudeep Mathew
               Extension Educators,
          Agriculture & Natural Resources
                    Wes Musser,
Professor & Extension Specialist, Farm Management,

 University of Maryland Extension
                    Materials
An informational workbook was put together as a
resource for the attendees. The workbook included
all presentations along with a new custom rate chart,
soil types productivity table, examples of a farmer
newsletter and résumé, copies of sample lease
agreements, list of resourceful websites and a
section on leasing your farm for hunting. All
information was also posted on the Maryland Grain
Marketing website, so information could also be
downloaded for easier use.

                  University of Maryland Extension
    Crop Budgets



University of Maryland Extension
       Outline – Crop Budgets
•   What is a budget?
•   5 Parts of a Budget
•   Budget Suggestions
•   Cost Components
•   Custom Rates
•   Demo how online budgets work
       Crop Budgeting


www.mdgrainmarketing.umd.edu
Landlord-Tenant
  Relationships


University of Maryland Extension
    Outline - Tenant-Landlord
          Communication
•   Types and forms of Communication
•   Communication Problems
•   Public Relations Strategy
•   Guidelines for Tenants
•   Guidelines for Landlords
•   Resume
•   Newsletter

         University of Maryland Extension
University of Maryland Extension
     Guidelines for Tenants
      “Keeping the Landlord Happy”

              no different from an

“Effective Public-Relations Strategy in any
                  Business”


          University of Maryland Extension
             Leases




University of Maryland Extension
   Outline Lease Agreements
•Lease Components
•Types of Leases
•Calculating Land Rental Rates
•Soil Productivity
•Hunting
•Machinery Costs
•Calculating Land Rental Rates
•Demo of Flexible Lease Agreement Worksheet


              University of Maryland Extension
  Crop Insurance



University of Maryland Extension
Crop Insurance Outline
• Crop Insurance Today
• Purpose of Crop Insurance
• Level of Premiums
  Compared with Indemnities
• Types of Coverage
• Losses
• Important Deadlines

University of Maryland Extension
 Crop Insurance Outline
    •Premium Subsidies
    •Farmer Loss Ratios
    •New Programs
      •ACRE
      •SURE
    •Requirements
    •What should you know…

University of Maryland Extension
Grain Marketing



University of Maryland Extension
     Grain Marketing
   •Clubs
     •Meet Monthly
     •Meet Bi-monthly
   •Winning the Game
   •Women In Ag
   •Winter Meetings
   •RightRisk

University of Maryland Extension
         Excel for
           Farm
         Businesses

University of Maryland Extension
           Excel for Farm
           Businesses
•Basics of Excel
•Receive Memory Stick
  •Farm Excel Spreadsheet
•Cost Recovery
•Held
  •Local Community Colleges
  •Extension Offices
University of Maryland Extension
          RightRisk



University of Maryland Extension
              RightRisk
 •Ag Survivor
 • Represents farming practices
      in region
    •Chesapeake Maryland Farm
 •Risk Management decision
    •Crops
    •Budgets
    •Marketing
    •Crop Insurance
University of Maryland Extension
  Terrapin Couples
       Retreat:
 On the court and in
    the classroom

University of Maryland Extension
    Terrapin Couples
         Retreat
   •Friday Evening
     •Girls Basketball Game
     •Dinner
   •Saturday
     •Choice of classes
        •Grain Marketing (WTG)
        •Surviving the Risk
        •Quickbooks/Excel
        •RightRisk
University of Maryland Extension
Results – Bankers/Loan Specialists
•75% will use Crop Budgets with their clientele
•100% will use Custom Rates
•100% will pass on information on Lease options
•33% will help clientele with decision on new
    Farm Bill ex. ACRE & SURE
•50% will help clientele make decision on Crop
    Insurance
•50% will use Grain Marketing information
 Results – Landowners/Farmers
•75% of the attendees rated the program
    excellent
•81% indicated they would use crop budgets
    with their farming operations
•77% would change their communication
    with the landlord
•56% percent would change their type of
    leasing agreement
•92% percent would use the workbook.
 Results – Landowners/Farmers
•90% of the attendees indicated the issue
    of risk management in today’s
    agriculture operations is very critical
•55% indicated they would change their risk
    management strategies
•87% used the internet for their farm
    operation
•33% percent were likely to use RightRisk
    on the internet.
•




    University of Maryland Extension
         Other Outcomes
•Farmers wrote a Résumé
•Increased awareness of Grain
     Marketing Website
•Grain Marketing Clubs- new tools
•RightRisk – MidAtlantic Farm Credit
     training exercise for loan personnel
•Excel –attendees would use for farm
     operations
•This regional Extension program addresses
timely topics affecting the profitability our
family farms.

•Next Step: Applied for a grant to cover a
larger region in Maryland. We would like to
target young farmers next year. More
Quickbooks training.

•We would be happy to share our program
with you.
                  Resources
• Materials from this meeting
  – http://www.extension.iastate.edu/feci/Leasing/vflm.html
• Online Courses –Ag Management e-School
  – http://www.extension.iastate.edu/ames
• Workshops, meetings, conferences
  – http://dbs.extension.iastate.edu/calendar/
• Publications –rental survey, land value survey, etc.
  – http://www.extension.iastate.edu/pubs/
• Articles and spreadsheets
  – http://www.extension.iastate.edu/agdm/
• Private Consultation
  – http://www.extension.iastate.edu/ag/fsfm/fsfarmmg.html
   - www.rightrisk.org

                  University of Maryland Extension
 Contact Information

   jrhodes@umd.edu
     sdill@umd.edu
    jehall@umd.edu
  smathew@umd.edu
 wmusser@arec.umd.edu

University of Maryland Extension

								
To top