HARRISBURG, Pa. — On Wednesday, March 25 at noon, the Center for Dairy Excellence will welcome Christine Brodeur, Director of Dairy Farmers of America Risk Management, as a guest speaker for the monthly “Protecting Your Profits” webinar. The monthly update is led by Zach Myers, Risk Education Manager with the Center, and provides dairy financial and risk management resources via a conference call and webinar format.
“Establishing a risk management plan is one of the only ways to protect yourself against volatility and unexpected drops in milk prices,” said Myers. “As we welcome Christine to our upcoming webinar, she will be digging into the Dairy Revenue Protection program and helping producers understand how to use the program to manage risk and put a floor under their milk price.”
(Christine Brodeur, photo provided)
The webinar will provide an overview of how risk management can benefit dairy operations. With increased milk production and a lower demand over the last few months, the average milk futures prices over the next 12 months have declined. Class III and IV milk futures on March 6 were $0.70 and $1.40 per hundredweight, respectively, lower than they were at the end of December 2019. Brodeur and Myers will share how risk management and programs like Dairy Revenue Protection can help mitigate this unexpected volatility.
Christine Brodeur serves as director for DFA Risk Management, a division of Dairy Farmers of America, Inc. She began her career with the Cooperative in 2008 as a communications specialist. In 2011, she transitioned to DFA Risk Management to assist in providing members with information to better understand forward contracting opportunities. Christine is now responsible for leading the membership team within DFA Risk Management to work with members across the country and support profitability by eliminating price uncertainty. In 2018, Christine received her insurance broker’s license and has been tasked with driving the expansion of the Cooperative’s offerings into Dairy Revenue Protection insurance. Christine received her Master of Business Administration from Le Moyne College in 2015.
“Dairy Revenue Protection is a quarterly revenue-based insurance program, with a new quarter beginning in April,” said Myers. “Christine’s experience with the program can help you determine whether purchasing policies for one or more of the next five quarters is the right option for your operation.”
Visit centerfordairyexcellence.org/MarchPYP on Wednesday, March 25 at noon to join the webinar. Individuals who would prefer to connect via conference call can dial the following number:
Conference ID: 717-346-0849#
There is no cost to participate in the ‘Protecting Your Profits’ program, and all are welcome to participate. Email Myers at email@example.com for more information.
The webinar will start promptly at noon and last one hour. It will be recorded and posted on the Center for Dairy Excellence website for those who are unable to join the live session.
The webinar’s guest speaker series is made possible by a partnership between the Center for Dairy Excellence and North Carolina State University Extension.
–Emily Barge, Center for Dairy Excellence