Producers Await Dairy Margin Coverage Sign up for the 2024 Calendar
Sourse: The DairyNews
Dairy producers are eagerly awaiting the announcement of the enrollment period for the Dairy Margin Coverage (DMC) program in 2024.
While hoping for stronger milk prices, producers are considering DMC as a backup plan, given the less promising outlook for first-quarter milk prices. The DMC program has proven beneficial, with indemnity payments surpassing $1.27 billion in 2023, averaging $74,453 per dairy operation.
Katie Burgess, director of risk management with Ever.Ag, emphasizes the strong track record of DMC in providing payouts during challenging market conditions. The program allows producers to select a margin triggering assistance when the milk price and average feed cost difference falls below the chosen level. The recent extension of the current Farm Bill until September 30, 2024, ensures the continuity of programs like DMC into the next year.
Katie Burgess, director of risk management with Ever.Ag, emphasizes the strong track record of DMC in providing payouts during challenging market conditions. The program allows producers to select a margin triggering assistance when the milk price and average feed cost difference falls below the chosen level. The recent extension of the current Farm Bill until September 30, 2024, ensures the continuity of programs like DMC into the next year.
