Michigan's farmers are facing an array of challenges, from unpredictable weather to volatile markets. To assist them in navigating these risks, Michigan State University (MSU) Extension is launching the Farm Policy and Risk Management Series. This educational webinar series aims to provide farmers with valuable insights into USDA insurance programs and strategies for risk reduction.
Understanding Risk Protection Programs: Farmers often contend with production risk due to weather, price fluctuations in volatile markets, and input cost uncertainties. USDA insurance programs were designed as cost-effective tools to help them manage and mitigate these risks effectively.
Webinar Sessions: The Farm Policy and Risk Management Series will feature a lineup of educational webinars focused on USDA insurance programs, tailored to specific Michigan production areas. These sessions will cover the basics of insurance, how producers can leverage these programs to their advantage, and understanding the nuances of different policies. Michigan farmers will gain valuable knowledge to better manage potential risks specific to their challenges, needs, and production regions.
Guest Speakers and Panelists: Several sessions will include insights from guest speakers and panelists within the insurance industry. This includes contributions from organizations like GreenStone Farm Credit Services, Michigan Farm Bureau, independent agencies, and university experts. These experts will provide additional perspectives and guidance.
Webinar Schedule:
• Fruit: Tuesday, October 17 at 6:30 p.m. - Focusing on insurance options for tree fruit and small fruit growers, covering cherries, apples, grapes, peaches, blueberries, and more. Topics include Actual Production History (APH), Actual Revenue History (ARH), Whole Farm Revenue Protection (WFRP), and Micro Farm (MFP) programs.
• Beef/Swine: Tuesday, November 14 at 6:30 p.m. - Exploring the Livestock Risk Protection (LRP) Program, discussing how it functions, working with insurance agents, and developing protection strategies.
• Vegetables: Tuesday, December 12 at 1:00 p.m. - Examining crop insurance programs for vegetable producers, including Whole-Farm Revenue Protection, Micro Farm Program, and Average Production History (APH) insurance.
• Dairy: Wednesday, December 20 at 1:00 p.m. - Delving into insurance and risk management programs tailored for dairy farms, with a focus on Dairy Revenue Protection and Dairy Margin Coverage.
• Late Breaking News Farm Bill Session: Tentatively on Thursday, January 11 at 6:30 p.m. - Discussing Farm Bill policy changes and their implications for 2024 commodity program decisions.
• Field Crops: Tuesday, January 16 at 6:30 p.m. - Exploring crop insurance programs for field crop growers, covering Yield Protection and Revenue Protection.
• Farm Bill Sessions: Tuesday, January 23 at 1:00 p.m. and Tuesday, February 13 at 6:30 p.m. - Helping agricultural producers understand their options for 2024 Farm Bill commodity programs, program statistics, and payments from 2023.
These informative sessions are designed to empower Michigan farmers with the knowledge needed to make informed decisions about risk management and insurance programs. The Farm Policy and Risk Management Series is offered by MSU Extension and is free of charge. To participate, registration is required. Register today at https://events.anr.msu.edu/fprms/ and equip yourself with essential tools to safeguard your farming endeavors.
Photo Credit: Michigan State University
Categories: Michigan, Education