The ever-changing business climate for agriculture poses myriad problems and risks for Indiana farmers. The Purdue Extension workshop “Managing Risk on Your Farm: Developing a Cash Rent Strategy” aims to address and equip farmers with the tools and knowledge they need to face these risks. Jim Mintert, director of the Purdue University Center for Commercial Agriculture and professor in the Department of Agricultural Economics, will present the workshop Feb. 23 to assist farmers with the tools and know-how to develop an integrated approach to risk management, with an emphasis on a long-term cash rent strategy. The presentation will have three parts: business climate overview, explanation of long-term cash rent spreadsheet and a demonstration with the spreadsheet.
During the demonstration portion, participants will be able to suggest changes to see how these affect the net returns, liquidity and solvency of a sample-farm’s five-year period. “The interactive session will highlight sources of risk in today’s farm economy and highlight a resource to deal with risk, including a spreadsheet tool farmers can use to better manage their financial risk,” said Crystal Van Pelt, Steuben Country Extension associate educator.
The workshop will be held at the Noble County Fairgrounds Log Cabin, 580 N. Fair St. in Kendallville. The 9-11:30 a.m. program is free, but registration is required by Feb. 18.