Dairy safety-net program signup begins Oct. 12
Dairy Margin Coverage safety-net signup for 2021 coverage will begin Oct. 12 through the U.S. Department of Agriculture Farm Service Agency.
The signup will run through Dec. 11 and, according to the FSA, payments have already been triggered for two months for those who signed up for 2020 coverage.
“If we’ve learned anything in the past six months, it’s to expect the unexpected,” FSA Administrator Richard Fordyce said. “Nobody would have imagined the significant impact that current, unforeseen circumstances have had on an already fragile dairy market.
"It’s during unprecedented times like these that the importance of offering agricultural producers support through the delivery of Farm Bill safety-net programs such as DMC becomes indisputably apparent.”
FSA has issued more than $100 million in much-needed program benefits to dairy producers who purchased DMC coverage for 2020 as of June 15, with more than 13,000 operations enrolled in the program for calendar year 2020.
According to the FSA, the DMC is a voluntary risk management program that offers protection to dairy producers when the difference between the all-milk price and the average feed price (the margin) falls below a certain dollar amount selected by the producer.
This program was authorized as part of the Farm Bill 2018.
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