Farm Policy and Risk Management Series

Michigan farmers need to manage many risks. Production risk brought on by weather, price risk from volatile markets, and even input cost risk can be challenging to manage. Insurance programs created by United States Department of Agriculture (USDA) were designed as a cost-effective means to aid farmers in managing or reducing impacts from these types of risks.
  
Throughout the fall and winter, the Farm Policy and Risk Management Series will be hosting a FREE series of educational webinars online on USDA insurance programs. Each webinar session will focus on a specific Michigan production area (fruit, livestock, field crops, etc.). These sessions will review the basics of insurance programs and present how their use can benefit farm producers. This includes understanding the different policies, the ways each provides protection, and the advantages offered by each. Michigan farms can better manage potential risks by understanding which options best fit their specific challenges and needs.
  
Several sessions will feature guest speakers and/or panelists from within the insurance industry. Including Greenstone Farm Credit Services, Michigan Farm Bureau, several independent agencies, and university experts.

• Marketing & Input Strategies – Thursday, November 7 at 6:30 p.m. ET and Tuesday, December 3 at 6:30 p.m. ET
  
  • How do grain prices and market conditions influence revenue or product availability? Can you act now to secure profits or priority needs? Identifying your crop price and input needs are all part of maximizing yield potential and secure profits. In these repeat sessions, speakers will discuss current market conditions and optimal strategies for putting your farm plans into action. Participants are encouraged to attend either or both sessions.

• Livestock Insurance – Tuesday, November 12 at 6:30 p.m. ET
  
  • Wyatt Mohr from Livestock Risk Partners will speak on livestock insurance programs for beef and swine producers. During this session topics will be covered that outline how the program functions and how to work with an insurance agent. The session will also review how to develop protection strategies and how to calculate program costs and indemnity payments.

• Farm Bill Commodity Programs– Tuesday, January 21 at 1 p.m. ET and Tuesday, February 11 at 6:30 p.m. ET
  
  • These sessions will help agricultural producers explore their options for 2025 Farm Bill commodity programs. MSU Extension experts will provide information on current policy updates and how these relate to the Farm Bill. Program statistics and payments from 2024 will also be highlighted. Speakers will explain how current and new program payments, such as Price Loss Coverage and Agricultural Risk Coverage, are calculated. They will also review how Farm Bill programs interact with crop insurance policies. The session will also provide examples using the MSU Extension Farm Bill calculator. The calculator helps showcase which programs may produce the most benefits for a producer’s individual needs.
  • Historically presented as “Farm Bill Program & Crop Insurance Decisions – What Fits Your Farm,” these repeat sessions focus on corn, soybeans, and wheat crops. Participants are encouraged to attend either or both sessions.

• Managing Risk Through Diverse Specialty Crop Marketing Strategies– Tuesday, January 28 at 1 p.m. ET

  • Finding the right mix of specialty crop marketing strategies to match your goals and skill set can be an important piece of risk management for your farm. Having multiple outlets available to sell your items provides resiliency and options. Fortunately, there are lots of options to consider. This presentation will provide an overview of various direct and intermediated market channels for specialty crop producers, including the benefits and risk management considerations of each.

• Michigan Apple Cost of Production (COP) – March, time/date TBD
  • Chris Bardenhagen and Molly Sears will host a webinar to discuss the 2025 Michigan Apple Cost of Production (COP) study. They will cover the main results of the study, including harvest/picking costs, establishment and production costs, and break-even analysis. They will also discuss how to use the Apple COP as a decision tool, using your farm’s numbers to calculate your farm-specific costs. Date and time of webinar will be announced in late winter.