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Oklahoma Drought Response Using Spreadsheet Tools

Oklahoma Drought Response Using Spreadsheet Tools. Roger Sahs Extension Assistant, Oklahoma State University Damona Doye Sarkeys Distinguished Professor and Regents Professor, Oklahoma State University. 2011: A Record Breaking Year . Minimum temperature: -31°F, Nowata, 2/10/11

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Oklahoma Drought Response Using Spreadsheet Tools

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  1. Oklahoma Drought Response Using Spreadsheet Tools Roger Sahs Extension Assistant, Oklahoma State University Damona Doye Sarkeys Distinguished Professor and Regents Professor, Oklahoma State University

  2. 2011: A Record Breaking Year • Minimum temperature: -31°F, Nowata, 2/10/11 • Number of days with temperature 100°F or higher: 101 days, Grandfield • Warmest summer (June-August): 86.9°F, Statewide average, U.S. record! • 24-hour snowfall: 27 inches, Spavinaw, 11 PM , 2/8/11 to 11 PM 2/9/11 • Wind gust: 151 mph, El Reno, 5/24/11 • Hail stone diameter: 6.0 inches, 2 miles north of Gotebo, 5/23/11 • Lowest annual total precipitation: 6.2 inches, Hooker

  3. U.S. Drought Monitor September 13, 2011

  4. OSU Ag Econ Drought Response Numerous meetings around the state…. • Extension educator training • Lender workshops • Producer meetings Topics covered…. • Market outlook • Reinvesting in the beef industry • Risk management tools Economic Impacts • $1.7 Billion Direct Losses from Ag Sector

  5. Decision Support Tools • Integrated Farm Financial Statements (IFFS) agecon.okstate.edu/iffs/ • Enterprise budget software agecon.okstate.edu/budgets/ • beefextension.com, Cow/calf, Calculators or Drought Resources. • Early weaning decision aid • Repurchase decision tool • Sell cows now or later • Cow bid price estimate calculator

  6. Keep and Feed vs Sell and Buy Back

  7. Price Increase That Can be Paid Assumes 5% time value of money Example: Your maintenance cost per day is $3 and you think May 1 is a reasonable repurchase target date. If you think the sell–buyback spread will be less than $756, you should sell and buyback.

  8. What’s Next? More rain, we hope!

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