Milk Covered by Margin Protection Program Declines Slightly
One hundred sixty three billion pounds of milk production history has been signed up for the 2016 Dairy Margin Protection Program, the United States Department of Agriculture reported this afternoon.
This is a slight, 1.8% decline from last year, when 166 billion lb. of milk history was signed up. Nevertheless, the amount signed up will likely exceed 75% of U.S. milk production this year.
USDA also reported 23,328 farms signed up for the 2016 program, or 51% of the nation’s licensed dairy farmers. Last year, 24,748 farmers enrolled.
Wisconsin had the largest number of farms signing up for 2016 coverage, with 5,797 enrolling. Other leading states included Minnesota, 2,586; New York, 2,237; Pennsylvania, 1,955; California, 1,137, and Michigan, 1,037.
The vast majority of farms, 18,013 or 77%, signed up for the minimum level of $4 of margin protection. The next popular level of coverage was $6.50, with 9% of farmers signing up. Eight percent of those farms signing up opted for $6 coverage.
