November 3, 2011

2011 Illinois Farm Economics Summit - The Profitability of Illinois Agriculture: Managing in a Turbulent World

Dates & Locations

Monday, December 12, 2011 - Champaign, IL I Hotel and Conference Center

Tuesday, December 13, 2011 - Sycamore, IL Center for Agriculture

Wednesday, December 14, 2011 - Galesburg, IL Best Western Prairie Inn

Thursday, December 15, 2011 - Mt. Vernon, IL Holiday Inn

Friday, December 16, 2011 - Bloomington, IL Doubletree Hotel

Overview

In an era of unstable markets, the last year may be hard to top. Outside markets have endured near financial meltdowns in Europe, a downgrade in the U.S. cred-it rating, and political turmoil in the Middle East. In the midst of all this, Illinois agriculture generally experienced another year of exceptional returns. To no one's surprise volatility has also been very high. Exhibit A is the 20% drop in corn and soybean prices in September 2011. Understanding the sources of this volatility and how to deal with these large risks is front and center in the minds of all producers. The University of Illinois Extension and members of the farmdoc team from the Department of Agricultural and Consumer Economics will be holding a series of five Farm Economics Summit meetings to help pro-ducers navigate this uncertainty.

Speakers from the farmdoc team at the University of Illinois will explore the farm profitability outlook and management challenges from several perspectives, including the direction of prices, government reports and data, estate planning, forecasting returns, crop insurance choices, and changes to farm programs. The format for the meeting will be fast-paced and allow plenty of time for questions from the audience.


Agenda

7:45 - 8:15 Registration and Coffee

8:15 - 8:30 Introduction and Overview

8:30 - 9:00 Crop and Livestock Price Prospects for 2012

9:00 - 9:30 USDA - NASS Revealed: Procedures in Setting Crop, Livestock and Economic Estimates

9:30 - 10:00 Estate Planning in Uncertain Times

10:00 - 10:30 Break

10:30 - 11:00 Stress Testing Agricultural Returns in 2012 and Beyond

11:00 - 11:30 Crop Insurance - New Features, Programs, and Performance

11:30 - 12:00 An Overview of Proposed Changes to Farm Policy

12:00 - 12:30 Question & Answer / Wrap-Up

12:30 - 1:30 Lunch (Included)


Speakers

Todd Gleason, Media Communications Specialist, University of Illinois

Darrel Good, Professor Emeritus, University of Illinois

Brad Schwab, USDA-NASS

Mark Schleusener, USDA-NASS

Gary Hoff, Extension Specialist, University of Illinois

Gary Schnitkey, Professor, University of Illinois

Bruce Sherrick, Professor, University of Illinois

Nick Paulson, Assistant Professor, University of Illinois

Registration

Registration at the door will be $65 per person as space permits.

All details are available at: http://farmdoc.illinois.edu/ifes/2011/index.html

Registration for this event is limited

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More Information

For any questions you may have, please contact:

Sue Esposito

Phone: 217-333-5506

Fax: 217-333-2312

email: sesposit@illinois.edu



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