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New Century Farmer: Finances and families

Updated: 07/23/2010 @ 8:37am

The National FFA Organization's New Century Farmer conference helped the participants with their marketing skills, finances, and families. Rabo AgriFiance gave presentations helping the 50 college-aged students from across the country help understand domestic and global commodity trends, and their personal finances. 

Sterling Liddell, vice president of food and ag research group with Rabo AgriFinance, showed how commodity prices have been on the rise in the past few years. Good right? Not so much he said. “As the value of corn increases, so do the costs of inputs, machinery, and land value,” Liddell explained.

Cat Roaten found the Liddell’s presentation to be especially interesting. The Sheridan, Indiana native, is a student and teacher assistant at Purdue University. “I really enjoyed seeing what they had to say and glad to hear what their ideas are and how they present the same information I help teach,” she said.

Passing on family traditions

Dr. Ron Hanson said families are important and they are needed. “The family element never gets talked about or discussed during succession planning,” stated Hanson, a professor at the University of Nebraska.

The emotional presentation left an impression on the participants. Ben Teal said the stories Hanson told were “straight forward and down to earth. He is telling it like it is and sharing real life situations.” Teal stated he liked hearing how other situations in succession planning worked out so if he was faced in a similar situation, he will be able to make a prediction as to its outcome.

Some of the situations Hanson spoke about where true in the participant’s lives. Josh Fiebiger explained how some of the succession planning has already taken part in his family, but not all of it. “This is a topic I came to the conference to hear about. Dr. Hanson’s talk was what I needed and came to hear,” the Fletcher, Ohio native said.

The New Century Farmer conference is sponsored by Pioneer Hi-Bred, Rabo AgriFinance, and Case IH, with media partner Successful Farming, as a special project of the National FFA Foundation.

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