| PROJECT SUMMARY |
| The objective of this project is to update the teaching materials developed in Phase I and present that material in hands-on training for progressive farmers. The investigators know that the new farm bill has created new opportunities for farmers and their families to use both new and existing risk management strategies to maintain and improve their farm income through better management of yield, market and financial risks. The new farm bill changes the ´rules of the game´ for producers. Farms ranging in size from small limited resource to large farms, and over a wide variety of southern program crops, will be impacted. This is especially true in regards to peanut production, an important crop in all of the participating states. The work will focus on integrating crop insurance with marketing practices to reduce the variability of farm family income through the management of both yield and price risk. Crop insurance policies have increased in number, quality and variety as well as in the real cost to the farmer. The availability of Crop Revenue Coverage and Income Protection policies increases the palette of alternatives a farmer has to choose from. Little work has been completed, particularly in the South, on how to best use various crop insurance policies in combination with standard marketing techniques to minimize risk exposure and income variability. This project will teach alternative strategies using crop insurance and marketing that can improve overall farmer income and reduce its year to year variability |
| NUMBER OF PARTICIPANTS: 276 |
| TOPICS COVERED |
| Insurance products |
| Market analysis and outlook |
| Cash and futures pricing tools |
| Marketing strategies, plans and clubs |
| Business and strategic planning |
| Ability to manage changes in policy and regulation |
