[Image: LSU logo]November 4, 2008
LSU AgCenter sets up hotline for farmers needing financial advice
Increased input costs, tight profit margins and two major hurricanes created a difficult year for many of Louisiana’s agricultural producers. To help the state’s farmers, the LSU AgCenter has established a farm financial hotline to help them make financial decisions.
Producers looking for financial management and disaster assistance information or who want individual farm financial consultation can telephone (225) 578-2266. Located in the LSU AgCenter’s Department of Agricultural Economics and Agribusiness, the hotline will be in operation from 8 a.m. to 4:30 p.m. Monday through Friday.
Producers will be able to get information on current U.S. Department of Agriculture assistance programs as well as other farm management and marketing information. In addition, they may call the hotline to request an individual farm financial consultation.
Producers looking for an individual farm financial consultation will be connected with an LSU AgCenter agricultural economist to schedule an individual session. To get a relevant farm financial plan, producers are requested to provide the following information regarding their operation:
– A minimum of one year’s production cost records, preferably two to three years’ woth.
– A five-year yield history.
– USDA base program acres and payment yields by farm number.
– A list of all nonsecured debts, including current balances, including items such as fuel bills, fertilizer bills, etc.
– A list of all intermediate and long-term loans, including payment levels and dates and current loan balances.
– Remaining balances on any 2008 crop production (operating) loans.
– List of any additional 2008 expected revenues.
– Information regarding family living expenses.
Kurt Guidry