Release Date: January 10, 2018
Media Contacts: Rick Hummell, 608-224-5041 firstname.lastname@example.org
or Bill Cosh,
Communications Director, 608-224-5020 William2.Cosh@wi.gov
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MADISON – Farming is a complicated and demanding business even
in the best of times. As such, it’s always helpful to have someone providing
support, suggestions and encouragement during challenging times like those currently
experienced by a large segment of the farming community.
“Supporting Farmers During Challenging Times,” a meeting for
agribusiness professionals who work with farmers facing increasingly tighter
financial margins, will be held Wednesday, Jan. 24, 9 a.m.-noon, at the
Millhome Supper Club in Kiel, Wis.
The meeting, hosted by University of Wisconsin-Extension of Manitowoc,
Fond du Lac, Washington, Ozaukee and Sheboygan counties, in conjunction with
several partnering agencies including the Wisconsin Department of Agriculture,
Trade and Consumer Protection (DATCP), will include three presentations.
The first presentation, “Green Flags, Red Flags: How to Analyze
a Farm’s Finances,” will be led by Frank Friar and Becky Paris, financial
consultants with DATCP’s Farm Center.
The second, “The Fog of Stress: Decision-Making During Tough
Times,” will be led by John Shutske, UW-Extension Specialist, Safety
Engineering and Agricultural Health. The third presentation, “Nutrition
Strategies with the 2017 Crop and Financial Challenges,” will be led by John
Goeser, UW-Madison Department of Dairy Science Adjunct Professor and director
of Nutritional Research and Innovation at Rock River lab, Inc.
“(The Farm Center’s) presentation will focus on how to analyze
a farm’s finances in terms of both ‘Green Flags,’ such as keeping accurate and
detailed records, understanding debt, and using legal debt and tax reduction
strategies, and ‘Red Flags,’ such as avoiding high use of credit card debt,
multiple lenders and frequent requests for extensions of payment dates,” said
Friar. “We’ll also discuss some basic ‘Rules of the Road’ for improving farm
The Wisconsin Farm Center, part of DATCP’s Division of
Agricultural Development, works one-on-one with Wisconsin farmers and their
families during all phases of the challenging farm life cycle including
start-up, growth, change, generational succession and retirement.
Friar said Farm Center staff can help with farm transitions,
farm finances, herd health, legal matters and more. Services are available for
new farmers, for families that have been farming for many years and for minority
He said the Farm Center’s financial services are available for
farms in financial trouble as well as for those that simply want to make
financial improvements. Services include reviews of cash flow projections, reviews
of feasibility and debt analysis, and business planning.
There is no cost to attend the January 24 meeting. Light
refreshments will be provided. RSVP by Jan 22. Register online: goo.gl/adqSrt