In order to receive Milk Income Loss Contract payments for January, dairy producers must sign-up today at their local Farm Service Agency offices.
Based on current futures markets, the projected January MILC payment is 54¢/cwt and for February, 8¢/cwt. With current prices, there would be no further payments in 2011.
Dairy producers, particularly large farms who market more than 3 million lb. annually, would likely maximize payments by signing up and taking the January payment.
