Howdy from the Risk Management Team!

We have been extremely busy working with producers since we sent out the first FARM Assistance Update newsletter in October. Those who are not directly involved in this program may not be aware that October through April is the busiest time for our team. Since October we have worked with almost 100 producers across the state.

Personnel Update

Since our last newsletter we have had one of our staff move on to another opportunity within Extension Economics. Rob Borchardt (formerly risk management economist in Vernon) has assumed the position of Marketing Club Coordinator working with the Master Marketer Program. While we regret losing Rob from our program, we are glad that he is staying in Extension. As we are currently doing in other locations with vacancies, those of you in Vernon wishing to update your analysis should contact Joe Outlaw in College Station to arrange an appointment.

In addition to the Vernon vacancy, we are currently seeking applicants for the risk management economist position in Stephenville.

Why It’s Important to Renew Your FARM Assistance Subscription?

A major factor involved when the state legislature provided funding for the FARM Assistance program was the development of a confidential database of real producer data. This database would then be used to enhance educational information and research for all producers in the state – regardless of whether they are Farm Assistance subscribers. The legislature saw the benefit of more and better information as a key to funding our program. In order to make the database the best information source, we would like to keep track of your information through time. By doing this, we would be able to determine and report how successful producers have adjusted to recent droughts and low prices.

So, for those who have not gone through the update process, we will be contacting you soon to setup a meeting to update your information and strategic analysis. So far, those producers who have gone through the update process have found that it takes much less time and effort than the initial year. For more information on renewing your FARM Assistance subscription, please contact your local risk management economist. A toll free number is available to contact our College Station office for more information (1-877-826-7475).

Did You Forget to Return Your Evaluation?

Feedback from participants is very important to us and we have made changes to the way we operate based on feedback we received. We realize you are very busy but, would really appreciate you taking the time to fill out the evaluation you received when we delivered your report. If you did not receive one or lost the one we gave you, please contact the College Station office and we will send you another one.

What’s New

This week we started sending out the comparative costs of production for each of your enterprises (corn, cotton, cattle, etc) and financial information for all subscribers. An example of the information you will be receiving is enclosed with this newsletter. In addition, we often use a number of terms and abbreviations that you may not be familiar with. We have also enclosed a list of financial terms and definitions. If you have any questions feel free to call your area risk management specialist or Steven Klose in
College Station.

Prepared by:
Joe L. Outlaw
Associate Professor and Extension Economist
Department of Agricultural Economics
Texas A&M University
College Station, Texas 77843-2124
979-458-1804