Weak market conditions in February trigger second federal payout from new dairy risk management program - Entrepreneur Generations

Some dairy farmers who sign up for a new federal risk management program will now receive a second payout, according to the U.S. Department of Agriculture's Farm Service Agency. The second payment was triggered by market conditions in February 2019, when the income over feed cost margin was $8.22 per hundredweight. Conditions in January qualified producers for the first payment.

The Dairy Margin Coverage program, which was established by the 2018 Farm Bill, replaces the Margin Protection Program for Dairy. It's a voluntary program that helps protect dairy producers when the difference between the all milk price and the average feed cost falls below a certain amount chosen by the producer. Dairy producers who select DMC coverage level of between $8.50 and $9.50 will be eligible for a payment for February 2019.

DMC signups will open by mid-June. Click here to find out more about the program.

from The Rural Blog http://bit.ly/2UBEp1b Weak market conditions in February trigger second federal payout from new dairy risk management program - Entrepreneur Generations

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