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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,

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Risk Management Programming on the Eastern Shore of Maryland:

Identifying needs and using a team approach.

University of Maryland Extension


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TEAM Maryland:

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


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Jenny Rhodes Maryland:

Shannon Dill

John Hall

Extension Educators,

Agriculture & Natural Resources

University of Maryland Extension


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Why? Maryland:

  • 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


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Why? Maryland:

  • Survey 2006

    • Queen Anne’s County Farmers

      • Average acres owned – 302.43

      • Average acres rented - 491.46

    • 62% Rented

  • Results from Surveys


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Who? Maryland:

Target audience:

Bankers, Farm Loan Specialists, Farm Service Agency staff, Farmers and Landowners


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When? Maryland:

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


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  • Crop Budgeting Maryland:

  • Communication

  • Leasing

  • Crop Insurance

  • Grain Marketing

  • Excel for Farmers

  • RightRisk

University of Maryland Extension


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Surviving the Risk: Maryland:

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


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Materials Maryland:

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


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Crop Budgets Maryland:

University of Maryland Extension


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Outline – Crop Budgets Maryland:

  • What is a budget?

  • 5 Parts of a Budget

  • Budget Suggestions

  • Cost Components

  • Custom Rates

  • Demo how online budgets work


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Crop Budgeting Maryland:

www.mdgrainmarketing.umd.edu


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Landlord-Tenant Maryland:

Relationships

University of Maryland Extension


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Outline - Tenant-Landlord Communication Maryland:

  • Types and forms of Communication

  • Communication Problems

  • Public Relations Strategy

  • Guidelines for Tenants

  • Guidelines for Landlords

  • Resume

  • Newsletter

University of Maryland Extension



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Guidelines for Tenants Maryland:

“Keeping the Landlord Happy”

no different from an

“Effective Public-Relations Strategy in any Business”

University of Maryland Extension


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Leases Maryland:

University of Maryland Extension


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  • 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


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Crop Insurance Maryland:

University of Maryland Extension


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Crop Insurance Outline Maryland:

  • Crop Insurance Today

  • Purpose of Crop Insurance

  • Level of Premiums Compared with Indemnities

  • Types of Coverage

  • Losses

  • Important Deadlines

University of Maryland Extension


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Crop Insurance Outline Maryland:

  • Premium Subsidies

  • Farmer Loss Ratios

  • New Programs

    • ACRE

    • SURE

  • Requirements

  • What should you know…

University of Maryland Extension


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Grain Marketing Maryland:

University of Maryland Extension


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Grain Marketing Maryland:

  • Clubs

    • Meet Monthly

    • Meet Bi-monthly

  • Winning the Game

  • Women In Ag

  • Winter Meetings

  • RightRisk

University of Maryland Extension


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Excel for Maryland:

Farm Businesses

University of Maryland Extension


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Excel for Farm Businesses Maryland:

  • Basics of Excel

  • Receive Memory Stick

    • Farm Excel Spreadsheet

  • Cost Recovery

  • Held

    • Local Community Colleges

    • Extension Offices

University of Maryland Extension


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RightRisk Maryland:

University of Maryland Extension


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RightRisk Maryland:

  • Ag Survivor

  • Represents farming practices in region

    • Chesapeake Maryland Farm

  • Risk Management decision

    • Crops

    • Budgets

    • Marketing

    • Crop Insurance

  • www.rightrisk.org

University of Maryland Extension


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Terrapin Couples Retreat: Maryland:

On the court and in the classroom

University of Maryland Extension


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Terrapin Couples Retreat Maryland:

  • Friday Evening

    • Girls Basketball Game

    • Dinner

  • Saturday

    • Choice of classes

      • Grain Marketing (WTG)

      • Surviving the Risk

      • Quickbooks/Excel

      • RightRisk

University of Maryland Extension


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Results – Bankers/Loan Specialists Maryland:

  • 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


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Results – Landowners/Farmers Maryland:

  • 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.


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Results – Landowners/Farmers Maryland:

  • 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.


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Maryland:

University of Maryland Extension


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Other Outcomes Maryland:

  • 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


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  • 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.


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Resources affecting the profitability our family farms.

• 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


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Contact Information affecting the profitability our family farms.

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

University of Maryland Extension


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