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

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

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

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

Texas A&M Mature Marketing Group Survey

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)

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

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

Price Risk Management Education

Training the Trainer  Minnesota Master Marketer Program  Participating in existing groups

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 support

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

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

Price Risk Management Education Thank you! Bret Oelke - Regional Extension Educator, Agricultural Business Management Bill Craig - Regional Extension Educator, Agricultural Business Management