National, State Associations to present Risk Management Session in Rock Falls, Ill.

The Illinois Beef Association (IBA) is teaming up with the National Cattlemen’s Beef Association (NCBA) and the Chicago Mercantile Exchange (CME) to present a new risk management workshop, Marketing Your Way to Profitability.  The session will be held July 23-24, 2004 along with the IBA Annual Meeting at the Deer Valley Country Club in Rock Falls, Ill.

The workshop features hands-on training for using futures and options and how to use the marketing tools in their operation.  CME representatives and Cattle-Fax Analysts will teach the two-day course. 

“Educational activities are just one way your associations are providing service for you,” says Curt Rincker, IBA president.  “The risk management sessions are designed to help cattlemen obtain tools that can help them be more profitable.”

On the first day CME staff will present a beginning level course that includes instruction on the mechanics of futures with hedging and the basics of forward pricing with options.  The second session will feature Cattle-Fax analysts leading the group through technical, fundamental and basis analysis in order to develop a marketing plan for their operations.  They will also discuss the market impacts of structural changes in the beef industry and price trends. 

Attendees will have the chance to interact with speakers and other cattlemen at an evening steak dinner.  “The evening social hour and steak feed is a great chance for cattlemen to visit with the instructors and also talk about what is currently happening in the marketplace”, says Maralee Johnson, IBA executive vice president.

Registration is required for this event.   Meals and breaks will be provided each day with the registration fee.  Registration fee will be $100 for members of NCBA or any of its state affiliates for the 2-day event.  Non-members registration fee will be $150.  One-day registration is also available at the rate of $60 for members and $75 for non-members.  Non-members can join IBA at the time of registration and pay the members registration fee.

For more information on the sessions and to register, contact Illinois Beef Association at 217-787-4280 or Renee Lloyd, NCBA, at 303-850-3373 or rlloyd@beef.org.