Writer: Steve Byrns, 325-653-4576, s-byrns@tamu.edu
Contact: Dr. Jackie Smith, 806-746-6101, j-smith34@tamu.edu
LUBBOCK – The Texas A&M AgriLife Extension Service will conduct four profitability workshops from 9 a.m.-3 p.m March 17, March 31, April 7 and April 23 at the Texas A&M AgriLife Research and Extension Center, 1102 E. Farm-to-Market Road 1294, Lubbock.
“South Plains producers are facing stressful times because of depressed commodity prices and alternatives added to the new farm bill,” said Dr. Jackie Smith, AgriLife Extension economist at Lubbock. “Farmers will be looking for and considering decisions that could cut costs or improve yields. Some will also be considering alternative crops.
“Cotton farmers especially will be evaluating new options as they navigate the 2014 farm bill. Their cotton base acres are now generic base acres. And while their generic base is not directly covered by Farm Service Agency payments, their generic acres can be planted to a covered commodity, and those acres will then be eligible for payments if payments are made for that covered crop.
“The goal of these workshops, all with a similar curriculum, is to help producers understand the new farm bill and its ramifications on their individual farming operations.”
Smith said the curriculum objectives include introducing participants to the budget spreadsheet to compare various alternative crops including planting covered crops on generic base. He said the budgets will be used to compare the net income of cotton with that of relevant covered crops including the safety net of PLC payments up to reference prices.
Smith said there may be additional profitability workshops at other locations, and all the workshops will be listed on the South Plains Profitability website at http://agrilife.org/southplainsprofit/ .
The crop spreadsheet budgets used in all the workshops can be downloaded from the same site. All the workshops will use the newest decision-aid tool developed by the Agricultural and Food Policy Center at Texas A&M University, called the “Generic Base Joint Planting and Program Election Assistance” tool.
“The tool calculates net returns for alternative crops under Price Loss Coverage or PLC and Agricultural Risk Coverage or ARC, for which you could allocate generic base,” Smith said. “The workshops will also review the ARC/PLC Evaluator for Generic Base.”
Participants will receive a jump drive with the budget spreadsheet on it. Those wishing to bring and use their own computers may do so.
For further information, call Smith at 806-746-6101. There will be no charge for the workshop, but pizza will be provided at lunch for $5 per individual.
-30-
.
