Ag CEO: Managing the Operation begins Dec. 9 in Brookings and Dec. 11 in Rapid City

Ag CEO: Managing the Operation will begin Dec. 9 in Brookings and Dec. 11 in Rapid City.

Ag CEO: Managing the Operation is a program consisting of once a month meetings which last three hours for four months. Producers will gain skills necessary to complete a marketing plan, understand hedging, financial statements and the role they play in the operation, and enterprise budgets.

“With rapid changes occurring in agriculture, there is a need for producers to improve record keeping and be financially knowledgeable in operating their farms and ranches,” said Shannon Sand, SDSU Extension Livestock Business Management Field Specialist.

Through this training, Sand explained that producers will be given the information they need to understand how to use a systems approach including: creating a marketing plan, insurance and hedging, financial statements-cash flow, balance sheet, and income statement. They will also understand enterprise budgets – including capital and partial budgeting. They will be encouraged to create a benchmark to keep track of physical and financial inventories and use financial ratios to help make buying decisions; such as land values-leasing versus owning.

“These are key business principles for establishing a profitable and sustainable operation,” said Sand.

Program details:

• Brookings program will be held Dec. 9, 2014, Jan. 13, 2015; Feb. 10, 2015; and March 3, 2015.

• Rapid City program will be held Dec. 11, 2014, Jan. 15, 2015; Feb. 12, 2015; and March 5, 2015.

For more information and to register for the program visit www.iGrow.org or contact Sand at 605-394-1722 or Shannon.sand@sdstate.edu or Heather Gessner, SDSU Extension Livestock Business Management Field Specialist, 605-782-3290 or heather.gessner@sdstate.edu.