Success StoryVirtual Backgrounding / Stocker Profitability Conference



Virtual Backgrounding / Stocker Profitability Conference

Author: Kenneth Burdine

Planning Unit: Agr Economics

Major Program: Farm Management, Economics and Policy

Outcome: Intermediate Outcome

Following the success of the Cow-calf Profitability Conferences in 2020 and 2021, Extension economists (Kenny Burdine, Greg Halich, and Jonathan Shepherd) wanted to offer something similar, but targeted at backgrounding and stocker operations. With the help of funding from the Kentucky Agricultural Development Fund and the partnership with the Kentucky Beef Network, the Backgrounding and Stocker Profitability Conference was developed. The program was intended to provide a detailed educational series for economic and marketing aspects of margin operations. The conference was offered in a virtual setting over three consecutive nights from March 22-24, 2022, with each session lasting roughly 1.5 - 2.0 hours. Live attendance was good with 77-100 participants each evening. Participants came from 49 Kentucky counties and 10 other states. The videos were also recorded and posted so that participants could review materials after the conference and reach could be broadened.

Attendees were asked to evaluate each topic on a 5 point scale with 5 being excellent and 1 being very poor. Evaluations were very high and suggested that attendees highly valued the presentations and materials. Evaluations are summarized in the table below, along with a few selected quotes from participants.

Evaluation Ratings by Presentation Topic

(5=excellent, 4=good, 3= fair, 2=poor, 1= very poor)

Virtual Conference Session Topic

Session Rating

Understanding the Current Market Environment (Kenny Burdine)

4.83

Cost of Gain vs. Value of Gain (Greg Halich)

4.59

Using Futures to Estimate Sale Price (Kenny Burdine)

4.65

Backgrounding and Stocker Budgeting Scenarios (Greg Halich)

4.53

Key Marketing Concepts for Margin Operations (Kenny Burdine)

4.53

Tax and Financial Management of Margin Operations (Jonathan Shepherd)

4.15

Livestock Risk Protection Insurance (Kenny Burdine)

4.46


Selected Quotes from Participants
-Great program. Thank you very much for developing this program.
-Excellent, well done, and easy to understand. Great presenters.
-I learned a lot. Thank you.






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