12/4/96

Contacts:
C. Phillip Baumel, Economics, 515/294-6263
Susan Anderson, Agriculture Information, 515/294-0705

RISK MANAGEMENT FOR FARMERS IS TOPIC OF ICN CONFERENCE

AMES, Iowa -- The business of farming has always been risky, but a variety of factors have combined recently to raise the stakes even higher. Changes in the federal farm program, changing global trade patterns and fluctuating climatic conditions are just a few of the new challenges facing farmers.

To help farmers, farm lenders and agribusiness leaders learn more about the risks, and strategies to help manage them, Iowa State University is sponsoring a day-long program on the Iowa Communications Network (ICN) on Jan. 14, 1997.

The program will originate from ISU and be broadcast to 12 locations around the state. A $20 registration fee will cover the cost of lunch, plus support material that will include a new publication on risk management developed by the ISU economics department.

Stan Johnson, Extension vice provost, will open the program at 9:30 a.m. Economics professor Robert Wisner and agronomy professor Elwynn Taylor will review factors that have increased the risks farmers face.

Economics professors Dermot Hayes and William Edwards will offer strategies to deal with crop price and yield volatility.

At 10:45 a.m., the ICN broadcast will break to allow for local discussion on the strategies outlined by Hayes and Edwards. The broadcast will resume for the final morning session, with Hayes joined by economics professor Bruce Babcock to compare the impact of several risk management strategies.

Following lunch, local discussion led by Extension area farm management specialists will continue the comparison of risk management strategies.

At 2 p.m., Hayes and economics professor Robert Jolly will talk about strategies that may actually increase risk. The tax and legal implications of risk management will be reviewed by economics professor Neil Harl. A wrap-up of the day's session will be provided by economics department chair John Miranowski, before adjournment at 3:45 p.m.

There is limited seating for the program, so registration is needed by Jan. 7. Participants should state which location they plan to attend, plus send a $20 check, made out to Iowa State University, to C. Phillip Baumel, Department of Economics, 460 Heady Hall, Iowa State University, Ames, IA 50011.

Program locations (plus local contacts) are:

Northwest Iowa Community College, Student Center, Room 102D, Sheldon (Ron Hook -- 712/754-3648)

Western Iowa Tech Community College, Carpentry Classroom, Ida Grove (Elton Tophoj -- 712/423-2175)

Carroll Kuemper High School, Carroll (Dennis Thomas -- 712/563-4239)

Corning High School, Corning (Tim Eggers -- 712/542-5171)

Northern Iowa Area Community College, Careers Building, Room 129, Mason City (Don Hofstrand -- 515/923-2856)

National Guard Armory, Eagle Grove (Kelvin Leibold -- 515/832-9597)

Ankeny High School, Ankeny (Don Gee -- 515/263-2660)

National Guard Armory, Chariton (Ralph Mayer -- 515/842-2014)

Cresco High School, Cresco (Paul Brown -- 515/394-2174)

University of Northern Iowa, 130A Schindler Building, Cedar Falls (Phil Hufferd -- 319/234-6811)

National Guard Armory, Iowa City (Gary Vogt -- 319/263-5701)

National Guard Armory, Fairfield (Harry Tucker -- 319/754-7556)

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