LUBBOCK – Comparing possible profits from South Plains crops for the 2012 season will be the focus of a Texas AgriLife Extension Service workshop set for 9 a.m.-3 p.m. March 20 at the Texas AgriLife Research and Extension Center, 1102 East Farm-to-Market 1294, Lubbock.
“Each year, we offer producers the tools, data and skills they’ll need to find the potential profitability of alternative crops here on the South Plains,” said Dr. Jackie Smith, AgriLife Extension economist at Lubbock.
He said only one workshop will be offered this year and he urges producers to take advantage of it. The workshop will offer a printed proceedings, crop budgets, a CD of Excel crop budgets, breakeven tables, reference files and Internet links to participants.
“Workshop attendees will essentially be getting instruction on everything they’ll need to make sound crop decisions before the tractor ever enters the field,” Smith said.
“We have designed the support material so producers can easily use the spreadsheet on their own computers,” he said. “The Excel spreadsheet will also let users examine the impact of different crop-share rental or cash-lease arrangements on the landlord’s and renter’s net income.”
Other topics will include input price trends and projections for 2012 along with basis, cash contracts and forward pricing using futures and options.
The workshop is funded through a grant from the Texas State Cotton Support Committee. Smith said the grant enables the workshop team to develop a crop-budget projection tool, conduct the training workshop, keep updated data and make the information readily available to producers.
“Producers can use their spreadsheet to fine-tune their own cost analysis to make accurate comparisons of the dollar potential of cotton, grain-sorghum, corn, peanuts and other crops,” he said. “In all, there are four cotton budgets and 23 for other crops that can quickly be evaluated with expected input costs and projected crop prices.”
Smith said participants will also be introduced to the iPhone/iPad app the team developed for producers to use in the field.
AgriLife Extension risk management specialists Jay Yates and Jeff Pate of Lubbock will assist Smith with the workshops.
Individual registration is $20 by check at the door. The fee includes lunch and refreshments.
To RSVP or for more information call Smith or Viki Bartlett at 806-746-6101.