Important dates are coming up for producers participating in the Milk Income Loss Contract (MILC) program.
Oct. 1, 2009 marks the start of a new MILC payment period. Producers have until Sept. 14, 2009, to request a change in their payment start date if they wish to begin receiving their 2010 MILC payments in October. The same is true for each successive month. A change may be requested up to the 14th of the month preceding the month payments are requested. If no change is requested, producers will begin receiving payments in the same month as requested for the 2009 program year.
Producers are reminded that any change to their dairy operation must be submitted to the Farm Service Agency (FSA) on form CCC-580M, MILC Modification. Changes not only include the start month request, but changes such as movement of a dairy facility, changes in the business type, addition or deletion of partners, and any other changes that may affect how the IRS would look at the structure of the dairy operation.
Producers are also reminded that a new 2010 Average Adjusted Gross Income Statement, form CCC-926, must be submitted for each individual, entity and payment members before any payments may be issued.
Further information is located online at www.fsa.usda.gov or by contacting a local FSA office.
Source: Western United Dairymen