Under the new Farm Bill, the Margin Protection Program for Dairy (MPP-Dairy) provides financial assistance to participating dairy producers when the margin – the difference between the price of milk and the cost of feed – falls below the coverage level selected by the provider.
If you have not done so, visit your local county or regional USDA Farm Service Agency office with your production records by Dec. 5, 2014. When registering, paying only the $100 administrative fee provides basic $4 coverage on 90 percent of your production history. Additional coverage up to $8 margins is available with a premium.
Sign up for 2015 coverage so you will receive an automatic increase in production history for 2016.
Evaluate your options at www.fsa.usda.gov/mpptool to compare coverage levels based on future projections or look at historical data.