K-State Research and Extension agents from Lyon and Greenwood Counties and the Flint Hills Extension District – Chase and Morris Counties, will be hosting an agricultural risk management session with a focus on cattle at 10 a.m. on Feb. 14. The Anderson Building on the Lyon County Fairgrounds will be the site for this Valentine’s Day gathering.
Managing risk in the cattle business has always been important. However, considering the currently high prices, the potential exposure to a loss is amplified. Markets can take a very sudden downturn and end up with disastrous consequences for the cattle owner.
With that in mind Dr. Jenny Ifft will join us to share several ways to help manage some of the risks, especially focused on minimizing price risk. Dr. Ifft is an Associate Professor and Extension Specialist in Ag Economics at Kansas State University with an interest in ag policy, crop insurance, farm markets, and farm labor. She will share information on many of the tools available to help minimize risk for cattle owners.
Before lunch we will also hear from a couple of local crop insurance agents on the livestock version of crop insurance – LRP. The presenters all plan to be around during and after lunch for additional questions.
Price risk is obviously not the only type of risk involved in the cattle business. Following lunch, the group hear from a “Ranching for Profit” attendee about some of the lessons they learned through the school. Sometimes it is not about the tools chosen as much as the thinking and the evaluation of what is or is not working for the operation.
To allow for meal planning, reservations are requested by Feb. 12 to the Lyon County (620-3413220), Greenwood County (620-583-7455) or Chase County x(620-273-6491) Extension Office.
