DAIRY NEWS – Understanding the financials of a dairy business is fundamental to making effective operational decisions. The 2023-24 sessions of PDPW Financial Literacy for Dairy® are designed to provide dairy farmers, veterinarians, nutritionists and other agribusiness professionals with the analytical and reporting tools to boost their operations.
“As the only financial development program designed specifically for the dairy industry, there is no better investment in your business than to understand your numbers so you can put them to work for day-to-day decisions,” said John Haag, Dane, Wis., dairy producer and PDPW board president. “Financial Literacy for Dairy is also unique because the online assessment taken by participants when they register ensures they are placed in the level most suited to their needs.”
Three levels of training are provided, with participants completing an online assessment at registration to determine the course level best suited to them. The online assessment must be taken before Nov. 8.
Level One provides four days of training in two separate sessions – Nov. 8-9, 2023, and Dec. 6-7, 2023 – with all trainings at PDPW headquarters in Juneau, Wis. This level is taught by dairy financial experts Gary Sipiorski, agricultural business and financial consultant, and Dr. Kevin Bernhardt, PhD, Professor of Agribusiness at UW-Platteville. Level one participants will learn core financial concepts such as the balance sheet, cash income statement and cash flow budgeting. This level sets the stage for practical on-farm application and helps producers set up systems for improved business management and more effective lender relationships.
With the idea that Level One participants will move on to the subsequent levels, those series are scheduled as follows:
- Level Two: Jan. 17-18, 2024; Feb. 7-8, 2024 and Feb. 28-29, 2024
- Level Three: Mar. 20-21, 2024
Dairy producers who participate in the program are encouraged to check with partners involved in the “Count on Us” program, which affords attendees an opportunity for full or partial scholarships to the Financial Literacy for Dairy program. The agricultural partners involved in the Count on Us program recognize the value that financial training provides to dairy producers and have committed to supporting eligible registrants. In such cases, class attendees pay the training program fee to PDPW upon registration, then consult with their “Count on Us” partners to determine the scholarship amount.
“Count on Us” partners include Bank of Brodhead, BMO, BouMatic, Bremer Bank, Citizens State Bank of Loyal, Compeer Financial, Dairy Business Consulting, Inc., Farmers & Merchants Union Bank, GreenStone Farm Credit Services, Lake Ridge Bank, Nicolet National Bank, and Rabo AgriFinance. Check the PDPW website for any updates or additions.
To register, visit www.pdpw.org or contact PDPW at 800-947-7379. Registered attendees will receive an email from PDPW with a link to complete an online placement test to be properly placed into Level 1, 2, or 3, and will receive notification of level placement immediately upon submission of test. Additionally, to suggest specific partners that might consider joining as a Count on Us partner, contact PDPW by phone or via the website.
Follow along digitally in advance of and during the event by following @dairyPDPW and using #mypdpw on Facebook, Twitter, Instagram, and LinkedIn.
Professional Dairy Producers (PDPW) is the nation’s largest dairy producer-led organization of its kind, focusing on producer professionalism, stakeholder engagement and unified outreach to share ideas, solutions, resources and experiences that help dairy producers succeed.”
