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Financial Conversations with Fitz #57 - Why Ag Week - 03/24/2010

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AG WEEK Happenings at TSB in Tike we had coffee at the Red Dog on …in Thompson we had coffee at HomeTown Mart. Then on Wednesday we served the Farm clients at Farmers Coop in Forest City…..Saw lots of customers at all of some of them…..

Someone asked me “Why do we do Ag Week”????    A good question.  The ag world needs to spread the word on importance of ag to our well being—Food prices to increase by 3-4% in 2008.  Still a good buy for consumers.  US food is still lowest % of budget…American Farmer feeds 150 people.       Spoiled by cheap food for years….World trade—more people moving from poverty to consumer for food and energy…China and India and other Asian countries…

Carbon Footprint…Was actually talked about in 1972 by Nixon “Energy Policy”.   Carbon credits are a reality.   They are traded daily in Chicago and Europe.

Wheat stocks still  low in 30 years…food prices—Grain trading..Continue to be volatile  *sidelight…  We still have a lot of 2009 grain still on hand. Right now speculators are still in control of price swings…not sply/demand.  We still hear daily,  how volatile the markets are going to be again this year.

Current/Future State of Ag—Don’t be afraid to tell our story…..Jan Anderson reminded us to hug a farmer in her Marketing Moments last year month…..I think we should with our Ag Week salute.

Market trends and profitability for ag customers—will still be suspect during 2010.  With all the wild swings in the world, Need to control own destiny with commodity trading and use of Revenue Crop Insurance….Be sure to run your own projections and understand them.

EVENTS  End of the month  26th and 27th - WOMEN AROUND AG CONFERENCE IN CLEAR LAKE AT BEST WESTERN, CAN STILL REGISTER AT WGO EXTENSION OFFICE (Friday night and Saturday) 

Remember that you should deal with people in community banks and organizations that when they put something together for you that they will  be sitting with them at ball games, church or community events.  So, if in doubt give us a call.