DAIRY NEWS – Registration is open for the 2024-25 sessions of PDP Financial Literacy for Dairy®, featuring two levels of training tailored to today’s dairy industry and taught by renowned dairy financial experts. The multi-session courses are designed for dairy farmers, veterinarians, nutritionists and other agribusiness professionals to learn key skills and strategies they can put to work at their business before returning to the next session.
Level One of Financial Literacy for Dairy provides four days of training in two sessions: Nov. 12-13, 2024, and Dec. 4-5, 2024. Level Two of the program provides six days of training over three sessions: Jan. 22-23, 2025; Feb. 5-6, 2025; and Feb. 26-27, 2025. All sessions will be held at PDP headquarters in Juneau, Wis, and each class will be limited to 30 participants.
All participants will complete an online assessment at registration to determine the course level best suited to them. The online assessment must be taken before November 7.
Courses in both levels are taught by dairy financial experts David Coggins, senior financial leader and retired agricultural loan officer, 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, setting the stage for practical on-farm application. Producers are positioned to set up systems for improved business management and more effective lender relationships.
Level Two participants will take a deeper look at more comprehensive financial tools and reporting methods, including profitability and cost-center tracking, measuring profitability of specific entities, enterprise budgets, cash flow budgeting and business analysis, as well as understanding balance sheet and financial ratios and analysis. The session will also introduce key performance measures and ratios and business planning strategies.
“Financial Literacy for Dairy helped me see our farm as a business so I can do my part to make it run like one,” said Ryan White of Kinnamon Ridge Dairy, Reedsburg, Wis.
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 comprehensive financial training provides to dairy producers and have committed to offering financial support to eligible registrants. In such cases, class attendees pay the training program fee to PDP upon registration, then consult with their “Count on Us” partners to determine the scholarship amount.
“Count on Us” partners include AgCountry Farm Credit Services, 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 Bank, and Rabo AgriFinance. Check the PDP website for updates and contact PDP to suggest specific partners that might consider joining as a Count on Us partner.
To register and find local hotel accommodations, visit www.pdpw.org or contact PDP at 800-947-7379. Registered attendees will receive an email from PDP with a link to complete an online placement test to be properly placed into Level 1 or 2, and will receive notification of level placement immediately upon submission of test.
PDP Financial Literacy for Dairy is accredited for up to 32.0 Dairy AdvanCE continuing education credits for Level One and up to 48.0 Dairy AdvanCE continuing education credits for Level Two.
Follow along digitally in advance of and during the event by following PDP on Facebook, Instagram, LinkedIn and X.
Professional Dairy Producers (PDP) 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.”
