Adjusted Dairy Insurance Program Will Help Pennsylvania Farmers Make Money

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The Republican Herald reports changes to the Livestock Gross Margin for Dairy insurance plan will help dairy farmers in Pennsylvania make a profit each year.

The plan updated by the state’s Department of Agriculture allows farmers to buy insurance at the end of a period rather than at the beginning. The LGM is a monthly system used to cover the difference between projected profit margins and actual margins realized when the time period has ended. If a farmer projects to make a profit and instead loses money, the insurance subsidized by the federal government supplies the difference.

Moving the insurance premium to the end of the period allows dairy farmers to gauge how much insurance they need, or skip it altogether if dairy product prices increase.

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Source: RepublicanHerald.com



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