Cattle Marketing Workshops to be Offered

The National Cattlemen’s Beef Association and the Chicago Mercantile Exchange (CME) are teaming up with state cattlemen’s associations to present a risk management workshop called “Marketing Your Way to Profitability.”  The workshop will feature hands-on training for using futures and options and how to use these tools in cattle operations.  The workshop will be held in nine states, primarily in August and early September.  One session will be held in California in November. 

“These marketing workshops are just one example of services that your state and national associations provide where cattlemen have the opportunity to learn more about management practices that can directly impact their profitability,” says Jan Lyons, Kansas cattle producer and president of NCBA. 

Errol Baxter, CME representative, will teach the beginning level course that includes instruction on the mechanics of futures with hedging and the basics of forward pricing with options.   Also planned is a market outlook presentation that will update the group on the current cattle market situation.

In 2003, pilot projects for this risk management workshop were held around the country.  Here is what a few cattlemen had to say about the experience:

“Good learning experience, good insight on beef industry trends.”

Garden City, Kan., participant

“Provided me with information and means to be more productive.”

Sioux Falls, S.D., attendee

“Opened new doors. Increased awareness of aspects of the industry I overlooked.”

Kissimmee, Fla., cattleman

Participating state cattlemen's associations for this workshop are:

Alabama Cattlemen's Association, California Cattlemen's Association, Florida Cattlemen's Association, Illinois Beef Association, Kansas Livestock Association, Michigan Cattlemen's Association, Mississippi Cattlemen's Association, Montana Stockgrower's Association, Oklahoma Cattlemen's Association, and Texas Cattle Feeders Association.