Dairy Herd Management has compiled numerous sources and resources covering the dairy Margin Protection Program (DMPP). The voluntary program, established by the 2014 Farm Bill, provides basic and supplemental income insurance when the margin – the difference between the price of milk and feed costs – falls below the coverage level selected by the farmer. DMPP gives participating dairy farmers the flexibility to select coverage levels best suited for their operation.
U.S. Ag Secretary Tom Vilsack announced that dairy farmers can enroll in the new Dairy Margin Protection Program (DMPP), starting Sept. 2 through Nov. 28. The DMPP final rule will be published in the Federal Register on Aug. 29. The Farm Service Agency, which administers the program, also will open a 60-day public comment period on the program.
National Milk Producers Federation (NMPF) president and CEO Jim Mulhern said his organization was pleased with the overall provisions of the new program, and urged farmers to begin familiarizing themselves with what will be a “valuable tool” to help manage farms’ financial risks in the future. NMPF is updating its www.futurefordairy.com website with relevant information, including a spreadsheet of historical margin trends, and an online calculator that will allow farmers to enter pricing and production data to help them select insurance coverage levels.
USDA’s Farm Service Agency, the National Coalition for Producer Education and the National Program on Dairy Markets and Policy partnered to develop the web-based decision support tool for DMPP, as well as the Livestock Gross Margin-Dairy (LGM-Dairy) insurance program. Dairy farmers can use the MPP Decision Tool in as few as four clicks of the mouse.
Dairy Herd Management has been notified of DMPP informational meeting schedules in several states. Check for a meeting near you.
In addition to dairy producer informational meetings to explain the new Dairy Margin Protection Program (DMPP), the National Program on Dairy Markets and Policy (DMaP) will host five “Train-the-Trainer” workshops across the United States, beginning Sept. 9. These meetings are oriented toward those who will work with dairy farmers to help them understand the program.
Dr. Marin Bozic at the University of Minnesota developed a survey to gain a better grasp of risk management use for dairy producers. The short survey asks your previous experience with risk management products, and also producer opinions on DMPP. Those finishing the long survey are eligible for cash awards.