Hands-on exercises to help managers practice risk management and strategies for managing market risk are part of master marketer workshops in Powell and Sheridan.
Sessions are 9 a.m.- 4 p.m. Wednesday, Jan. 29, at the Powell Research and Extension Center north of Powell. Hours are the same for the Sheridan workshop Thursday, Jan. 30, in room 131 in the Watt Regional Agriculture Building at Sheridan College.
“This program will provide an introduction to commodity markets and alternatives for managing market risk; important skills in today’s competitive market place,” said John Hewlett, University of Wyoming Extension farm and ranch management specialist.
Five categories of instruction are: understanding basis and its signals; overview of traditional marketing tools; insurance policies for risk management; livestock market risk control options; and crop marketrisk control options.
Each has individual topics. For example, the overview of traditional marketing tools includes futures, options and forward contracting.
An introduction includes understanding seasonal, cyclical, trend and random price variation and a discussion of risk management and price variation patterns.
Presenters are Hewlett; Duane Griffith, Montana State University marketing specialist, emeritus; and Bridger Feuz, UW Extension marketing specialist. The sessions are sponsored by the USDA Risk Management Agency and RightRisk.
More information about the sessions is under Upcoming Events on the left-hand column at http://www.uwyo.edu/ces. Registration is required in advance. Cost is $15, and includes a meal and handout materials. To register for the Powell session, contact the Park County extension office at 307-754-5547. To register for the Sheridan session, contact the Sheridan County extension office at 307-674-2980.