Co-ops for Crops.

first_imgA University of Georgia study released this week shows that Georgiafarmers who grow oilseeds (canola, soybeans, peanuts and cotton)can make their crops more valuable.By building a crushing/refining facility in the state and by forminga cooperative, the study says, farmers can control the raw materialsthey produce all the way to the grocery shelf.The New Way to Look at FarmingIn the past, a farmer only grew and harvested crops. He sold thecrops in bulk to off-farm buyers at wholesale prices. Once theyleft the farm, the farmer had little to do with the crops, whichwere then manufactured into higher-valued consumer products.But now, the move toward globalization is smothering wholesalecrop prices. So farmers should look beyond just growing and harvestingcrops, said George Shumaker, an economist with the UGA ExtensionService and one of the authors of the study.Farmers should look beyond how many bushels or pounds they canproduce per acre, he said. They need to envision how many bottlesof oil, or how many shirts or candy bars they can make from theircrops.The New Generation Co-opRandy Hudson, coordinator of the Emerging Crop and TechnologiesInitiative of the UGA College of Agricultural and EnvironmentalSciences, agrees.”We’re now looking at how the farmer can carry the productbeyond the realm of just production and move higher up that foodchain,” he said.For the past several years, farmers across the country have formedco-ops in hopes of spreading risks and making consumer productsfrom their crops. These new-generation co-ops market their productsto grocery or other retail outlets. This brings the farmer a greaterdollar value, Hudson said.The keys to forming such a co-op, he said, are an adequate processingfacility and timely delivery of the products.Georgia Could Support OilseedFacilityThe UGA study said such a facility could be built and economicallysupported in Georgia. The crushing-refining facility would primarilyconvert seeds from canola and soybeans into oils. But it couldhandle cotton and peanuts, too.To get the facility up and running would cost about $56 million.However, it would add about $172 million in economic activityto the Georgia economy, the report said. Its impact would affectmore than 250,000 acres of farm land. Besides the 53 jobs thefacility would create directly, about 1,100 jobs would be createdindirectly, mostly in rural Georgia.Such facilities use a crushing process to extract oil from theseed. The result is actually two products: oil and meal. The mealcan be used to feed livestock and chickens.”But this is something that will have to be done by the Georgiafarmers,” Shumaker said.”Agriculture is very weak, and we need a way to get moreprofit into farming,” said Marty McLendon, a Calhoun Countyfarmer. “We fully believe value-added products, letting thefarmer put products on the grocery shelf … is the wave of thefuture.”McLendon said he believes the oilseed facility has potential ifgrowers are committed. “There is always risk,” he said.”But I think we’ve got some direction.”last_img read more

Why teen savers have more financial success later in life

first_imgWhen Dawn Morgan was a teenager, she really wanted to get braces. Her parents, though, didn’t have the money for it, so she had to save for them herself. “I waited until I got my first job at age 16,” Morgan says.Later, in her 20s, Morgan took financial workshops to learn more about money management, including how to avoid debt and save. Now a freelance writer and filmmaker in her mid-30s, she’s in the midst of launching a Kickstarter campaign to fund a short film, “Emily’s Braces,” featuring a teenage girl who learns about money by saving for braces – just as she did 20 years ago.As Morgan discovered firsthand, teenage money experiences, both good and bad, can influence spending habits in adulthood. Indeed, a paper by Annette Otto and Paul Webley published in June in the Journal of Consumer Affairs found that after age 15, saving money becomes more important to teenagers than borrowing money or negotiating over it with their parents. The authors suggest that teenagers might be especially motivated to learn how to be financially independent, so it’s a good time to broach the topic with them. The findings also underscore previous research that suggests saving at age 16 is closely linked to saving at age 34.“It confirms the findings of other work that money habits are really formed early in life. That’s why it’s important to have financial literacy in school,” says Annamaria Lusardi, academic director of the Global Financial Literacy Excellence Center at the George Washington University School of Business. She adds that the paper shows parents help shape the future financial behavior of their children. “It starts at home, at the dinner table,” she says. continue reading » 31SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Deery Series is bound for Boone on Memorial Day

first_imgBOONE, Iowa – Still looking for a repeat winner this season, the Deery Brothers Summer Series travels to Boone Speedway for its traditional Memorial Day show next Monday, May 25.Corey Zeitner, defending champion Justin Kay, Joel Callahan and seven-time IMCA Late Model tour champ Jeff Aikey each have single series wins so far. Andy Nezworski, however, has yet to finish outside the top five and brings the point lead to town.The main event at Boone pays $3,000 to win and a minimum of $300 to start. Pit gates open at 2 p.m., the grandstand opens at 3 p.m., hot laps are at 4 p.m. and racing starts at 5 p.m.Grandstand admission is $15 for adults, $7 for students ages 13-17 and free for kids 12 and under when accompanying a paid adult. Pit passes are $30.Forty-two previous Deery events have been held at Boone, 13 of them on Memorial Day.Five of Aikey’s series-leading 64 victories have come at Boone, including the 2013 and 2014 IMCA Speedway Motors Super Nationals fueled by Casey’s main events. Gary Webb is a four-time Super Nationals champion and Ray Guss Jr. counts last year’s Memorial Day checkers among four career Boone Speedway wins of his own.Completing the holiday program at Boone are IMCA Sunoco Stock Cars, Karl Chevrolet Northern SportMods and IMCA Sunoco Hobby Stocks, running for all applicable points.More information is available from promoter Robert Lawton at 515 987-1220 and at the website.Deery Brothers Summer Series top 20 point standings – 1. Andy Nezworski, Buffalo, 188; 2. Justin Kay, Wheatland, 180; 3. Corey Zeitner, Omaha, Neb., 169; 4. Joel Callahan, Dubuque, 167; 5. Scott Fitzpatrick, Wheatland, 165; 6. Tyler Bruening, Decorah, 152; 7. Jeff Aikey, Cedar Falls, 145; 8. Joe Zrostlik, Long Grove, 141; 9. John Emerson, Waterloo, 138; 10. Todd Malmstrom, Silvis, Ill., 137; 11. Charlie McKenna, Clear Lake, 134; 12. Andy Eckrich, Oxford, 128; 13. Jeremy Grady, Story City, 120; 14. Brian Harris, Davenport, 118; 15. Matt Ryan, Davenport, 113; 16. Darrel DeFrance, Marshalltown, 107; 17. Ryan Dolan, Lisbon, 101; 18. Curt Martin, Independence, 91; 19. Brunson Behning, Davenport, 88; 20. Jason Rauen, Farley, 86.last_img read more