The Free “Protecting Your Profits” Webinar Will Take Place on May 9 at 12 p.m. EST
On Friday, May 9 from 12-1 p.m., the Center for Dairy Excellence will host a “Protecting Your Profits” webinar titled “Know Your Numbers: Cost of Production and Break-Evens Simplified.” Jacob Thompson and Andy McCarty, two experienced dairy business advisors from Land O’Lakes, plan to simplify what can be a complex calculation for dairy producers: break-evens and cost of production. After simplifying what goes into a dairy farm’s break-even costs, they will share how producers can use these numbers to effectively forecast potential margins and take advantage of certain risk management programs.
“It’s important to know your dairy’s numbers, but there is a lot that goes into the equation. That’s why we’re excited to invite Jacob Thompson and Andy McCarty back to the ‘Protecting Your Profits’ webinar series to simplify the process of understanding your farm’s break-evens,” said Valerie Mason-Faith, Risk Education Manager at the Center. “They’ll discuss how to discover your farm’s break-even price and, in turn, determine your Class III/IV break-evens so you can implement a sound risk management plan for your dairy operation. This should be an open, simplified and very resourceful discussion, so I hope you’ll consider joining us on May 9.”
During the webinar, Thompson and McCarty plan to discuss:
- The difference of cash vs. accrual
- Principal payments vs. depreciation
- How to calculate each step involved to determine your Class III/IV break-evens
- How to use these numbers to effectively forecast potential margins and utilize risk management products more effectively
To join the discussion in a format that is most convenient for you, the Center will host it in a webinar, podcast, and conference call format. There is no cost to participate in the ‘Protecting Your Profits’ discussion, and no registration is necessary.
Webinar Format
Visit www.centerfordairyexcellence.org/MayPYP on Friday, May 9 at 12 p.m. to launch the webinar and watch live.
Conference Call Format
Individuals who would prefer to connect via conference call can dial the following number on Friday, May 9 at 12 p.m.:
Dial: +1 301-715-8592
Meeting ID: 895 5488 1462
Passcode: 477825
Podcast Format
Visit www.centerfordairyexcellence.org/pyp to listen to a recording of the “Protecting Your Profits” discussion in podcast format and subscribe to get notified when new episodes are released. The episode is expected to be published after the live webinar and conference call are concluded.
Jacob Thompson is a Senior Dairy Business Advisor and serves Land O’Lakes, Inc. member-owners in the Mid-Atlantic region and in CA, providing a full suite of risk management services for their operations. Jacob is an expert in cost of production analysis, milk production and expense budget development, milk marketing plan development and market updates. In addition, he is a licensed Dairy Revenue Protection Insurance Agent. By providing dairy operations with tools, resources and insights in executing sound risk management strategies, Jacob is a source of trust to members in planning for agility during market volatility and long-term business success. With over 18 years of experience with Land O’Lakes, Jacob has become a sought-after risk management thought leader with a strong passion for the dairy industry and tools that benefit producers. Jacob was raised on a dairy farm in northwest Wisconsin and graduated from University of Wisconsin-Madison with a degree in Agricultural Economics & Business.
Andy McCarty serves as a Dairy Business Advisor for Land O’Lakes, Inc. for member-owners in the Mid-Atlantic region, providing a full suite of risk management services for their operations. Andy is a licensed Dairy Revenue Protection Insurance Agent and provides cost of production analysis, milk production and expense budget development, milk marketing plan development, and provides timely market updates. With over 18 years in the agriculture industry, Andy has a wide range of expertise in risk management. He is not afraid to roll up his sleeves and help any producer find common-sense solutions through different tools available that can have lasting impacts and benefits. Andy has developed a strong passion for the dairy industry at a young age being raised on a dairy farm in Northeastern Pennsylvania and graduated from Delaware Valley University with a degree in Dairy Business.
Valerie Mason-Faith, Risk Education Manager at the Center, will facilitate the webinar. Contact Valerie at vmason@centerfordairyexcellence.org or call (717) 550-8720 with questions about the webinar.