Summary and Implications
As a result of a global recession that lowered milk product demand and cut farm milk prices 50%, as well as other market factors (higher feed and other cost inputs) during late 2008–2009, dairy producers faced eroding equity and the toughest dairy financial situation in this century. The ISU Dairy Team and Extension partners planned and delivered 10 workshops entitled “Dealing with Tough Times: The Dairy Financial Situation” through-out the state during summer 2009. Workshops provided education on the current situation and discussed key financial, legal, and stress management strategies to help dairy producers and lenders through these critical decision-making processes. The meetings resulted in excellent materials/ presentations also archived for future use, and its success was evidenced by greatly enhanced knowledge by participants (post meeting surveys) as well as national media attention.
Iowa State University
Mondak, Chris; Thoreson, Dale; Tranel, Larry; and Timms, Leo L.
"ISU Dairy Team Helps Producers and Agri-business Respond to
Dairy Financial Crisis,"
Animal Industry Report:
AS 656, ASL R2517.
Available at: http://lib.dr.iastate.edu/ans_air/vol656/iss1/38