Financial risk to farming enterprises during the global economic crisis will be the subject of the keynote address at this year’s Risk Management Day hosted by Double B Beef.
The well respected Emeritus Professor John Chudleigh, who publishes the monthly report Analysing Agriculture, will address the macro and micro economic issues that are impacting farming returns now and into the near future.
Practical Systems Chief Executive Officer, Mark Morton of Armidale will address the risk of not being able to provide a record of quality assurance for sale cattle.
The need to be able to guarantee your product is an issue that has yet to gain widespread acceptance, however, producers need to be ready with a system in place so that the required information can be provided.
Healthy family relationships is another topic that will be discussed on the day with local counsellor, Marie Ward. One of the greatest risks to a farming enterprise is family splits. Ms Ward has a counselling practice in Inverell.
She says she "is passionate about keeping relationships in working order" and that they require regular maintenance, just like the tractor or the car.
Other speakers include Anthony Chick who will talk about hedging price risk when selling stock and Andrew Wilkie from Objective Livestock Marketing will discuss the positives of maintaining good communications with your marketer.
The Risk Management Day will be held on Thursday, May 14 at the Bingara RSL and is open to all.