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Risk Management Education (RME) for Agricultural Producers
By moniquegarcia on Tue, 08/20/2013 - 2:03pm
The primary objective of Risk Management Education (RME) is to serve as a key resource for information and applied research analyses related to marketing and management issues surrounding Arizona’s agricultural production inputs and commodities—a particularly critical during the current economic downturn.
Description of Action:
During 2009, Risk Management Education (RME) was delivered to an estimated 953 producers and government agency personnel through oral conference presentations and hands-on computer workshop trainings primarily in Arizona, but also in Colorado, Nevada and Utah. Sample titles of presentations include “Determining Economic Value of Cutouts and Livestock Market Situation” (to Navajo, Hopi and Tohono O’odham tribal ranchers); “The Changing Beef Industry: Input costs, Consolidation, and MCOOL,” (to ranchers); at Southwest Marketing Network (SWMN) Conference: “Keeping the Younger Generation in the Community and on the Farm” and “Developing a Sound Business Plan,” among many others.
When workshop participants were solicited on the odds that they would incorporate any of the information covered into future decisions that would favorably impact the financial position of their operation, 34 percent indicated there was an excellent chance this would occur and 58 percent gave a good chance of this occurring. Over 99 percent of the participants reported that the RME trainings were worth their time to attend. When asked how participants rate the relevance of topics presented at the RME trainings for their operation, 44 percent said the topics were excellent and 49 percent said they were good. Finally, 87 percent noted that the odds are good or excellent that they will incorporate something they learned from an educational event that will favorably impact the profitability of their operation.
“The financial management system will help me understand my operation, determine trend of business and be more accountable.”
“If my son can work it, why not me.”
“This simple ranch form looks like I could use it and get some good feedback.”
“Your workshop helped me better realize the factors limiting profitability of my operation.”
“Workshop will alter how I track changes on livestock records, financial assets and liabilities.”
“More effective way to evaluate alternative management decisions and see what is influencing the profitability of our ranch.”