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Issue: January 2017

Greetings, Agricultural Lenders!

In issue of our quarterly electronic newsletter, we highlight:

We hope you find these tools and resources helpful in your work. Please share this e-newsletter with colleagues and customers who may not be on our list. They can then subscribe using the link at the bottom.

Financial Outlook for Agricultural Sector

Average balance sheets remain relatively strong for the agricultural sector as a whole, but some signs of stress are appearing. Prices for most agricultural commodities are now below cost of production for average producers, resulting in an increase in short-term debt to finance cash-flow demands of farming operations.

New Online Farm Management Training Course

The OSU Department of Agricultural Economics has developed new resources to assist producers in honing their business management skills. Resources include a series of video presentations on financial management, production, and risk management topics. Webinars are also being offered to deliver timely educational information, including market outlook.

Updated Quicken Manual for Farm/Ranch Use

Quicken is one tool that helps people better monitor and manage their finances. It is a personal financial record-keeping tool that can easily be adapted for farm/ranch use. Step-by-step instructions and other informational resources to assist producers in learning to use Quicken have been updated for Quicken 2017.

Cash Flow Planning Tool

Oklahoma Cooperative Extension Service has developed a simple tool to help clients develop a cash flow plan for their production agriculture operation. This tool is an Excel spreadsheet that does the necessary calculations to create a cash flow plan for the user. Users input numbers for each month and the tool shows monthly and annual cash inflows and cash outflows.

Upcoming Webinars

February 14: The Financial Forecast: Partly Cloudy, Partly Sunny, Stormy?, 12 PM, More Information 

February 28: Crop Outlook, 12 PM, More Information

March 14: Livestock Outlook, 12 PM, More Information 

March 28: Succession Planning, 12 PM, More Information

April 11: Leasing and Rental Rates: Coming to Agreement, 12 PM, More Information

Do you know?

Do you know what risk management plan your clients currently have in place? A plan that was agreed upon several years ago may not match up with current low commodity prices. The beginning of a new year could be a good time to check with clients to see if their risk management plan is current. This is also a good time to check up on a client’s implementation of their risk management plan. A producer’s well thought out and designed risk management plan does not help if it only exists on paper.
 
If a client or clients are struggling with developing or implementing a risk management plan, Oklahoma Cooperative Extension Service has resources to learn about risk management. The previously mentioned online borrower training course provides learning resources discussing risk management along with financial and production management.
 
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