What are the key financial statements every dairy farmer should know? What is a simple way to calculate and interpret your farm’s core financial metrics?
Looking for someone who can decode dairy market signals and break down the key factors currently influencing milk prices?
Want to learn how programs like Dairy Margin Coverage (DMC), Dairy Revenue Protection (DRP), and Livestock Gross Margin for Dairy (LGM-Dairy) can work for your dairy?
Join us this October for free Risk Management and Financial Literacy Workshops in Lancaster and Chambersburg, Pennsylvania! Our goal with these workshops is to take some of the stress out of managing risk and finances on your dairy farm. Our speakers plan to take complex financials and ever-changing dairy markets and break it all down to the fundamentals — so you can walk away with practical skills to make confident financial decisions for your farm.
Dates and Locations:
- October 8 – Lancaster Farm and Home Center (1383 Arcadia Rd, Lancaster, PA 17601)
- October 15 – Franklin County Extension Office (185 Franklin Farm Ln, Chambersburg, PA 17202)
Hosted by Penn State Extension and the Center for Dairy Excellence, the free events will include lunch and three sessions. Keep reading to learn more about the sessions, and sign up for a workshop today!
Sessions:
Decoding Dairy Markets
Jayne Sebright and Valerie Mason-Faith will explore key factors that are currently influencing milk prices, including dairy market economics, domestic and global supply and demand, and other market highlights. They will also discuss today’s market uncertainties and emerging trends, so you can make better sense of market signals and prepare for the opportunities and challenges ahead.
Protecting Your Dairy’s Margins
Dr. Rebecca Weir will cover the key federal dairy price risk management programs, including Dairy Margin Coverage (DMC), Dairy Revenue Protection (DRP), and Livestock Gross Margin for Dairy (LGM-Dairy). Dr. Weir will break down how each program functions, share recent policy and program updates, and offer enrollment considerations to develop a risk management strategy tailored to your dairy’s needs.
Farm Financial Fundamentals
Dr. Brian Reed will dive into the key financial statements every dairy farm should know as well as calculating and interpreting core financial metrics. He will demonstrate how you can use these numbers to calculate your farm’s cost of production and evaluate your financial health to make confident, informed management decisions.
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