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Texas Agriculture Archive

November 18, 2005

Master Marketer class
set for Amarillo

The profit margin is so minimal in grain crops, producers need a way to lock in a profit, according to one Panhandle producer.

Nathan Sargent of Stinnett has found a way. He just needs to get more proficient at it, he said.

Sargent is planning to attend a second Master Marketer Program training to increase his proficiency with futures, something he expects to pay off in the long run.

Master Marketer is a national award-winning risk management education program provided by Texas Cooperative Extension. Students learn how to develop marketing plans, evaluate marketing alternatives, manage production and price risk, and execute a risk management and marketing plan, Amosson said.

The 64-hour curriculum is offered as four, two-day sessions held every two weeks. It is the most intensive marketing/risk management training provided by Extension anywhere in the U.S., he said.

The next Master Marketer Program will be held in Amarillo, starting in January.

Increasing net returns by as much as $250,000 in the next 10 years can be a reality, said Dr. Steve Amosson, an Amarillo Extension economist and program coordinator.

In a two and one-half day post-training survey, previous Master Marketer participants indicated their gross income increased by more than $30,000 annually on average, based on what they had learned in the training.

"There is no reason that program graduates shouldn't receive this level of increased returns for the next 10 years," Amosson said.

After attending classes in Vernon, Sargent said he was able to market some grain and make more money than if he hadn't had the class.

"Taking the class is like any other tool," he said. "You have to learn to use it and once you use it, there's always a chance of upside profit. It was worth the price of the class."

With markets so volatile, Sargent said he wanted a way to lock in prices because they change so rapidly. By taking the class, not only did he get to hear experts on the futures market, but he was able to learn from other producers what they are doing, he said.

"Interested participants should weigh carefully the registration fee, the time commitment and travel costs associated with the program against the potential of a $250,000-plus increase in returns during the next 10 years before signing up for the program," Amosson said. "Personally, I can't think of a good reason not to sign up for the program."

At the sessions, professionals in industry and universities from across the country teach a wide range of topics to enhance marketing/risk management skills. Case studies, group discussions and simulation exercises will be used wherever possible, Amosson said.

Students will gain experience with tools they can use on their own farm and ranch operations when they leave the class, he said.

The first two-day session is set for Jan. 11-12. The registration fee for the program is $250, which includes noon meals and educational materials.

Partial program costs are covered by grants from sponsors, including the Texas Farm Bureau, the Cotton State Support Committee and the Risk Management Program of the U.S. Department of Agriculture.

For more information or to register, contact the local Extension agent or call Amosson at (806) 677-5600.

Due to the hands-on nature of the course, attendance will be limited.

The deadline for registration is Jan. 3, but Amosson warned the class is filling fast, so producers should not wait to register.