The overall goal of this project was to ensure that underserved farmers/ranchers in Wyoming are well-informed of risk management alternatives allowing them to take full advantage of existing insurance products and other risk controls. Risk management involves following a deliberate and well-informed approach to management. This project enhanced farm and ranch profitability and economic viability by enabling producers to successfully manage one or more of the five sources of risk: production, market, institutional/legal, human resource, and financial risk. Key objectives were to help producers who are underserved by crop insurance to: 1. Understand the risk inherent in their operation, 2. Recognize the methods and tools available to mitigate risk, and 3. Formulate plans to effectively use risk controls to manage risk to more acceptable levels.
A multidimensional approach provided education under three broad objectives, including:
- OBJECTIVE 1: Offer educational
programs directly to managers of Wyoming farms and ranches through on-site and
on-line programming. NOT FUNDED
- OBJECTIVE 2: Provide on-site and
on-line educational programs to Wyoming’s small, beginning, and
limited-resource farmers and ranchers.
- OBJECTIVE 3: Develop and offer
media-based education on risk management alternatives and available
crop/livestock insurance products statewide via articles in agriculture-focused
newspapers and producer-organization newsletters.