Completed Project Report


Implementation of Risk Management Strategies by Beginning Beef Producers: A Comprehensive Approach

  • Award Amount: $49,997
  • Regional Center: North Central Extension Risk Management Education Center
  • Grant Program: 2018 Education Projects
  • Project Director: Amanda Blair
  • Email: amanda.blair@sdstate.edu
  • Organization: South Dakota State University, West River Ag Center

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Project Overview

This program was designed to help beginning beef producers navigate the complicated current business environment. Three interactive workshops focused on four areas of risk management were conducted over the 18-month intense program with 26 participants from 18 operations. Two of the workshops focused on established, successful beef producers who served as Case Studies with different production emphases. The participants experienced different production models, marketing and financial strategies, and risk assessments. The third face-to-face workshop centered around livestock and crop marketing. Participants were introduced to the components of the commodity market and learned approaches to utilize marketing tools and implement strategies. They created marketing plans that included new tools or strategies.  Individual consultations were conducted with participants to focus on their specific goals, business and marketing plans. Webinars were held between face-to-face meetings to maintain participant interaction. The program achieved a 100% great to excellent satisfaction rating. Producers increased risk management knowledge to levels 4 and 5 in the following areas: production 65% increase; financial 62% increase; marketing 38% increase and human 58% increase in risk management knowledge.  They also made changes to their operations and the evaluation survey provided details about growth of knowledge and implementation of risk management practices. 

Number of Participants: 309

Results

Project Steps

PROMOTIONAL MATERIALS

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EDUCATIONAL MATERIALS

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REPORTS & EVALUATIONS

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DELIVERY AREA

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