K-State will host a Feb. 23 session in 28 Kansas locations to discuss risk management strategies for cow-calf producers.
K-State slates talk on risk management for cow-calf producers
Feb, 23 session will be held at 28 Kansas locations
Jan. 31, 2022
MANHATTAN, Kan. – Jenny Ifft says successful cow-calf producers are “risk experts.”
“They face multiple sources of risk every day,” said Ifft, an agricultural policy specialist with K-State Research and Extension. “Forage production can vary dramatically based on when or how much it rains. If the market tanks the month before they sell their herd, a producer’s profit could be wiped out.”
Ifft is the featured speaker for a Feb. 23 session slated in conjunction with the four-part workshop, Risk Management Skills for Kansas Women in Agriculture, which began in mid-January.
Her talk is an optional fifth session added to the series, and she will focus on risk management for cow-calf producers. The session will be presented at 28 locations in Kansas, beginning at 5:30 p.m. Registration costs $15 and is available online.
LaVell Winsor, a farm analyst with K-State’s Department of Agricultural Economics, said some of the topics covered on Feb. 23 include enterprise budgeting, cattle marketing and cow-calf insurance options.
“It is important for ranchers to understand their cost structure because there is a wide range of costs of production,” Winsor said. “Marketing is always critical, but with high feed costs (currently), it is especially important for cattle producers to be watching for opportunities to lock in profits.”
Ifft said cow-calf producers can also be strategic when considering insurance options. She notes that half of Kansas currently is facing moderate drought and feed prices are volatile.
“Insurance products are available to help producers manage forage risk and price risk by making payouts when a producer’s local area is abnormally dry, and when cattle prices are lower than expected,” she said.
Though the series title highlights a need for women to attend, the session is open to all participants, regardless of gender.
Sessions are scheduled for Atwood, Beloit, Clay Center, Colby, Dodge City, El Dorado, Emporia, Fort Scott, Grainfield, Great Bend, Hays, Independence, Iola, Jennings, Kiowa, Leavenworth, Leoti, Manhattan, McPherson, Paola, Sabetha, Salina, Smith Center, St. John, Stockton, Syracuse, Ulysses, and Wilson.
More information is also available from local extension offices in Kansas.
