Lubbock Advanced Topic Series Will Focus On Futures & Options

Writer: Tim W. McAlavy, (806) 746-6101, email: t-mcalavy@tamu.edu
Contact: Dr. Jackie Smith, (806) 746-6101, email: j-smith34@tamu.edu

LUBBOCK – Producers and others who want to learn more about futures and options should plan to participate
in an Advanced Futures and Options seminar slated in February.

This seminar is part of Texas Cooperative Extension’s Advanced Topics Series in agricultural marketing; a slate
of 10, two-day workshops offered this year at several locations statewide.

Advanced Futures and Options takes place from 9 a.m. to 4 p.m. Feb. 3-4 at Texas A&M’s Agricultural
Research and Extension Center, just north of Lubbock. To reach the center, drive north on Interstate Highway 27
past Lubbock International Airport – take Exit 11 (Shallowater) and drive ½ mile east on FM 1294.

“We will cover advanced hedging strategies, such as cover calls, spreads, storage hedging, and windows. We
will discuss the pros and cons on each strategy and when you should consider using them,” said Jackie Smith,
Texas Cooperative Extension economist based at the Lubbock center. “We teach this course at a highly-applied
level, using a combination of lectures, small group interaction and simulation exercises.”

“It’s very similar to how we conduct our Master Marketer training.”

Ed Usset, a grain marketing specialist for the Center for Farm Financial Management at the University
Minnesota, is the workshop’s featured speaker. He teaches beginning and advanced marketing classes to
produces in Minnesota, and worked as a marketing/sales director in commodity operations for Pilsbury Company
before joining the University of Minnesota.

Tuition for the Advanced Futures and Options workshop costs $150 per person, and includes the cost of
materials, breaks and lunches, Smith said. Preregistration is required. The registration deadline is Jan. 27-28.

“Registration forms are available through your local county Extension office. You can also obtain a form by
calling me at the Lubbock center, at (806) 746-6101 or 746-4057,” Smith said.

Partial funding for this year’s Advanced Topic Series is provided by the Southern Region Risk Management
Education Center. Other sponsors underwriting the series include: Master Marketer Educational System, Texas
Wheat Producers Board, Texas Corn Producers Board, Texas Farm Bureau, the State Cotton Support
Committee, and the Houston Livestock Show & Rodeo.