Doug Leman with IPDP says most importantly producers will benefit from the market discussions.
“As dairy farmers go a lot of times some of our shortfalls are in the marketing,” he told HAT. “I look at this as a real opportunity for IPDP to promote really what is our mission, education information to dairy farmers. So I just think this is going to be a wonderful opportunity to get together to discuss marketing and see the CME in action.”
Leman said some marketing veterans will lead discussions on volatility and how marketing can make a difference on a dairy, among other topics.
“We have Mike Rusch from Stewart-Peterson, who has worked with many dairy operations, and we’re also bringing in Brad Guse from BMO Harris Bank, which I think makes it extra interesting since we also have the perspective from the lender’s side. We’re encouraging our producers to bring their lender along. we do have some lenders already signed up for the tour, and you know the farmer and the lender need to be in this together to understand marketing, hedging, and the potential to hedge both your milk and your feed inputs.”
The very affordable trip to Chicago June 26th is just $50 for an IPDP member and others from the same farm and $150 for nonmembers. Bus space is limited but there are still seats available. Register at www.indianadairy.org.
Following the tour, farmers will participate in the commodity marketing discussion over dinner at the Union League Club in Chicago. The marketing discussion portion of the day will mirror a format popular with university extensions and dairy producer organizations, according to Rusch from Stewart-Peterson Inc.
“Farmers like discussing business opportunities and challenges with each other,” says Rusch. “When you add an industry expert to this type of peer-to-peer setting, a lot can be learned in a short amount of time.”[audio:https://www.hoosieragtoday.com//wp-content/uploads//2012/06/Indiana-dairy-marketing-day-in-Chicago.mp3|titles=Indiana dairy marketing day in Chicago]