Extending Our Reach – Training Agricultural Professionals to Facilitate and Teach Price Risk Management in a Marketing G

1. Extending Our Reach – Training Agricultural Professionals to Facilitate and Teach Price Risk Management in a Marketing Group Setting Bret Oelke and Bill Craig, University of Minnesota and Dale Carter, Agricultural Consultant

2. Extending Our Reach – Training Agricultural Professionals to Facilitate and Teach Price Risk Management in a Marketing Group Setting

3. Extending Our Reach…….. • Objectives • Understand the need to expand access for producers • Recognize the U of M format • Learn the process used to replicate the University format • Outline the training and support provided to non-University facilitators

4. Price Risk Management Education • Why the need? • Limited staff to manage and facilitate groups • Increasing demand due to Minnesota Master Marketer, Winning the Game and other marketing programs delivered by University Staff • Measurable financial impact on group participants (Texas A&M mature marketing group survey) • Sponsor requests

5. Texas A&M Mature Marketing Group Survey

6. Texas A&M Mature Marketing Group Survey

7. Texas A&M Mature Marketing Group Survey

8. Price Risk Management Education • University of Minnesota marketing group format • Master Marketer curriculum used initially to provide background to group participants • On-going material developed by Regional Extension Educators • Regional Educators facilitate and teach regularly along with guest speakers • Fee based program (per session or per farm annually)

9. Price Risk Management Education • Meeting format • 90 to 120 minutes • 12 to 16 session per year • Formal presentation first • Research based (limit opinion and don’t “advise”) • Informal discussion • Have a reason to meet (not just to socialize) • Benchmark marketing plans

10. Price Risk Management Education • Market material used • Commodity futures prices for grains and livestock • Energy futures • Options • Local prices • USDA report information and summaries

11. Price Risk Management Education

12. Price Risk Management Education

13. Price Risk Management Education

14. Price Risk Management Education • Training the Trainer • Minnesota Master Marketer Program • Participating in existing groups

15. Price Risk Management Education • Supporting the Trainer • Provide localized presentations • Benchmark marketing plans developed with group participants tracked by facilitator • Work with local sponsor to recruit participants • Conference call and email support

16. Price Risk Management Education • Sponsors • Local businesses and/or farm organizations • Provide access to customers/members • Support facilitator • In some cases provide meeting space

17. Price Risk Management Education • Other important issues • Facilitators should not have an “agenda” • Need to have support of local Agricultural Businesses and/or farm organizations • Open communication and clear expectations of participants, facilitators, and sponsoring organizations

18. Price Risk Management Education • Thank you! Bret Oelke - Regional Extension Educator, Agricultural Business Management oelke002@umn.edu Bill Craig - Regional Extension Educator, Agricultural Business Management craig030@umn.edu