Couldn’t attend the 2017-2018 Cow-Calfenomics presentations? The sessions are now available online: Cow-Calfenomics presentation page and Alberta Agriculture and Forestry’s YouTube playlist.
"This winter’s presentations featured interesting topics on farm business management in the Alberta cow-calf business," says Rick Dehod, farm financial specialist, Alberta Agriculture and Forestry (AF). The series brought a lot of information, ideas, and opportunities for producers to add to their management “tool kit” to help them make better choices based on better information.
Topics and presenters included:
- Cattle Market Situation and Outlook - Ann Wasko, market analyst from Gateway Livestock, spoke about the cattle market situation and outlook, focusing on the conditions of November 2017. Ann included a forecast of what the market outlook could hold, moving forward.
- The Use of Risk Management Tools in the Beef Industry - Brenda Hagen, project coordinator for the Western Livestock Price Insurance program, explained the use of risk management tools in the beef industry. She outlined the various tools available to protect your profit, and how different tools work in different market situations.
- Business Structure for New Entrants - Joel Bokenfohr, AF, presented material to benefit anyone who is entering the business. Joel reviewed what business structures could allow you to retain your profit, grow your business, and transition partners or family into your business.
- Production and Enterprise Analysis - Herman Simons, AF, reminded the attendees that most farms have numerous enterprises, but sometime we do not realize which one is more profitable than another. Herman included how conducting an enterprise analysis will give you the information needed to increase the profitability of your entire farm while using the same amount of resources.
- A Farmer’s Guide to Agricultural Credit - Rick Dehod, AF, spoke about agricultural credit. Agriculture is a capital intensive business, and debt is a tool to enhance the opportunity for profit. Like any tool, you need to understand its use and features to get full benefit for your farm. Rick included what you need to consider when taking on debt, and why its cost/interest rate is not the only factor to consider before you sign on the dotted line.
- The Value of Having a Mentor - Melissa Hermanson - a Canadian Cattlemen Young Leader participant, reflected on the value of having a mentor and her experiences that led her to become involved in the Canadian Cattlemen Young Leaders program. Mentorship is important to that program's success.
Dehod adds the importance of industry in this series, “the Alberta Beef Producers continue to recognize the importance of engaging our youth into the industry, having sponsored the registration of students and producers who are 25 years of age or younger. The students and young producers expressed a big thank you to the Alberta Beef Producers.”
Source : Alberta Ag and Forestry