This Ranching for Profit workshop is designed for producers looking to transform their operation into a profitable business with less work and stress. Workshop attendees will dive deeper into the principles behind farm economics and increasing farm profitability, giving participants the tools and insights they need to improve their business.
Day 1 (Oct 24th): Three Secrets for Increasing Profits
- Setting a profit target and working backwards to achieve it
- Projecting profit or loss using the RFP 7-step profit planning model
- Using benchmarks to identify your profit drivers and find your "dead wood"
- Restructuring your operation for profitability
Day 2 (Oct 25th): Cattlemen vs. Grassmen - Economic Leverage of Grazing
- The value of cattle vs. the value of grass
- Stocking rate vs. carrying capacity
- Soil health is the foundation of ag business health
- Applying the 3 secrets for increasing profits into the 5 cell grazing principles
This 2-day workshop will be taught by Jordan Steele, one of the experts on the Ranching for Profit team and director of operations for Ranch Management Consultants. Jordan grew up on a cow-calf operation near Aladdin, WY before completing his Master's Degree in Agricultural Economics at the University of Wyoming. He worked for the Kansas Farm Management Association for over 7 years where he specialized in agricultural business recordkeeping, financial analysis and interpretation, and income tax preparation for farmers and ranchers. Jordan attended his first RFP school in 2017 and was instantly hooked on how well the program delivery ties together the people, money, and production areas of farming and ranching.
The workshop will feature a small group approach with team and class discussions, case studies, videos, interactions, and direct application to the participants’ own situation to make for a fun and effective learning environment.
The event runs from 9 AM to 4 PM each day. Lunch will be provided each day. If you have questions or need assistance please contact your local county Extension office or the Western Maryland Research and Education Center at 301-432-2767. If you need reasonable accommodation to participate in any event or activity please contact us at least 2 weeks prior to the event.
This event is brought to you by University of Maryland Extension, the Maryland-Delaware Forage Council, and American Farmland Trust. Thank you to our event partners!
University of Maryland Extension programs, activities, and facilities are available to all without regard to race, color, sex, gender identity or expression, sexual orientation, marital status, age, national origin, political affiliation, physical or mental disability, religion, protected veteran status, genetic information, personal appearance, or any other legally protected class. If you need reasonable accommodation to participate in any event or activity please contact us at least 2 weeks prior to the event.
