Five Strategies of Profitability, Delivering Feedback and Cost of Production

Earn Dairy AdvanCE continuing education credits while tuning in for interactive discussions

This week’s episodes of The Dairy Signal® from Professional Dairy Producers® (PDPW) will focus on ways that dairy farmers can better understand and manage the financials of their business and improve employee engagement. On Tuesday, learn about economic factors outside of agriculture that impact agricultural profitability every year. Tune in Wednesday for a discussion on redirection feedback and take a deep dive into calculating the cost of production on Thursday.

A few more details here:

Tuesday, Nov. 14

Economic factors outside of agriculture impact agricultural profitability every year. Currently, there are many uncertainties that farmers face: inflation, interest rates, trade disruptions, technology innovations. These factors all have long term implications to the five strategic levers of profitability a farmer can pull to increase profitability for their farm. Episode presenter will be:

• Dr. Brady Brewer, PhD, Assistant Professor, Agricultural Economics Department, Purdue University

Wednesday, Nov. 15

Learn the difference between “reinforcement” feedback that encourages continued positive behaviors and “redirection” feedback designed to improve performance and engagement, and how you can effectively use each with your team members. Episode presenter will be:

• Liz Griffith, Liz Griffith Family Consulting

 Thursday, Nov. 16

Understanding cost of production is the foundation of effective dairy management. Hear the results of recent studies on cost of production, as well as ways to calculate cost of production and how it can be used to make management decisions. Episode presenters will be:

• Dr. Kevin Bernhardt, Professor of Agribusiness at UW-Platteville School of Agriculture and Farm Management Specialist with UW-Extension and Center for Dairy Profitability
• Dr. Charles Nicholson, Associate Professor, Department of Animal & Dairy Sciences and Agricultural & Applied Economics, UW-Madison

Episodes of The Dairy Signal® are now accredited through Dairy AdvanCE® (DACE), enabling dairy producers, industry professionals and students to earn continuing education units for watching. Those wishing to earn up to 0.5 DACE continuing education units per episode simply complete a brief online quiz pertaining to each specific webinar, whether live or recorded. Dairy AdvanCE is an online continuing education management tool for dairy farmers and other professionals that simplifies finding, tracking and managing continuing education units (CEUs). To learn more, visit www.DairyAdvance.org. Farmers and students are eligible for a free subscription; allied industry professionals can subscribe for a one-time fee of $75.

The Dairy Signal® is a weekly series of educational episodes offering practical insights and resources for dairy farmers and food-system professionals across the value chain. Episodes air live from 12:00-1:00 PM CT each Tuesday, Wednesday and Thursday. Live sessions offer attendees the opportunity to engage in open Q&A with the speakers; recorded sessions are available shortly after episodes are aired. Access all previously broadcasted sessions at www.pdpw.org.

For more information, contact PDPW at 800-947-7379 or send an email to mail@pdpw.org. Join the conversation digitally by following @dairyPDPW and using #TheDairySignal on Facebook, Twitter, Instagram and LinkedIn.

Professional Dairy Producers (PDPW) is the nation’s largest dairy producer-led organization of its kind, focusing on producer professionalism, stakeholder engagement and unified outreach to share ideas, solutions, resources and experiences that help dairy producers succeed.