Howdy from the Risk Management Team!

It has been quite a while since our last newsletter. We have been extremely busy working with producers and filling position vacancies. This newsletter was intended to come out several times a year and so far that has not happened on a consistent basis. That’s not all bad because it means we are out working with producers across the state – which is why we are here.

Personnel Update

Since our last newsletter we have had a number of personnel changes that we would like to bring everyone up-to-date on. Last fall, Steven Klose assumed the position of co-coordinator of the FARM Assistance program along with Joe Outlaw. For those of you who don’t know him, Steven is the person who developed the FARM Assistance software we use to do our analyses. This change was necessitated by Joe picking up the additional responsibility of state-wide agricultural policy specialist for Texas Cooperative Extension.

We have also added a few new faces around the state that we would like to introduce to you. Jaret Schulte joined our team working out of the Stephenville Center. Jaret is originally from Nazareth, Texas. He received his undergraduate degree in Agribusiness at Texas Tech and his masters degree in Agricultural Economics at Texas A&M working with Ernie Davis in livestock marketing.

We added a second Risk Management Specialist in Amarillo in January when Dustin Gaskins joined our team to work along with DeDe Jones. Dustin worked with our team while he was an Ag. Economics graduate student at Texas A&M. Dustin is originally from Knott, Texas where he grew up working on the family cotton farm.

Jay Yates joined our team in April and works out of the Lubbock Research and Extension Center. Jay, a native of Deming, New Mexico has spent the last 12 years farming in New Mexico. Prior to going into farming, he worked with the Center for Farm Financial Management at the University of Minnesota and the National Grain Sorghum Producers in Abernathy. Jay received his undergraduate degree in agricultural economics at Tarleton State and his masters degree in agricultural economics at Texas A&M.

The newest member of the team is Will Phinizy who is located at the Research and Extension Center in Uvalde. Will received both a B.S. in agricultural economics and an M.B.A. from Texas Tech. He has worked for Continental Grain’s Cattle Feeding Division and more recently at Vista Genetics, a pure-bred seed stock operation.

How is the Farm Bill Going to Affect You?

Are you wondering what the future holds for your operation under the new farm bill? If so, we can help. The FARM Assistance team is ideally suited to provide you a sneak preview of your operation under the new bill. In fact, since passage of the new bill, we have already provided a number of our subscribers assistance with the base and yield update decision, as well as completed projections of individual financial situations under the new bill. Contact your local Risk Management Specialist or call our campus toll free number 1-877-826-7475 and we will get you set up for a visit.

Expanded Cow-Calf Emphasis

Why should the TAMU Risk Management Team target beef cattle producers? Simply put, the last five years have been tough on cow-calf and stocker operators in Texas. Fluctuating cattle markets and perennial drought have teamed up to sap the equity from many ranches. The producers who remain are more cautious than ever before about their future economic viability. Many producers need an assessment of where their businesses are headed if they don’t make any changes; and more could benefit from access to analysis of alternative strategies before they actually make the decision.

Given the importance of the beef cattle industry to the Texas agricultural economy and the precarious financial condition of many in this group, the Financial and Risk Management Assistance team has decided to make work with cow-calf and stocker producers a top priority. Two individuals will be leading this effort and handling most of the promotion and actual face-to-face work with this clientele group. Jim Sartwelle, III and Will Phinizy comprise the Risk Management cattle team, with significant assistance from the on-campus and off-campus risk economists. Both economists come from cattle production backgrounds and have put most of their efforts during their careers into analysis of this industry. They are up-to-date on beef cattle industry trends and they understand the Financial and Risk Management Assistance process more than enough to provide quality, accurate, strategic analyses to cattle producers. If you’re interested in a Financial and Risk Management Assistance analysis for your ranch business or know someone you believe could benefit from the program, please contact Sartwelle or Phinizy at the numbers on the front of this newsletter or call our campus toll-free number 1-877-826-7475.

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