USDA Announces Start of 2024 Dairy Margin Coverage Program Enrollment on Feb. 28
Source: The DairyNews
The USDA Farm Service Agency (FSA) has revealed that enrollment for the 2024 Dairy Margin Coverage (DMC) program is set to commence on Wednesday, Feb. 28. Dairy producers will have until April 29 to complete their enrollment in this voluntary safety net program, with payments triggered in January expected to be disbursed by March 4.
This announcement follows a brief waiting period during which the FSA revised the DMC program regulations, allowing eligible dairy operations a one-time adjustment to their established production history. The adjustment involves combining previously established supplemental production history with DMC production history for dairy operations that participated in DMC during a prior coverage year.
Producers are strongly encouraged to take advantage of this opportunity, as the DMC program is authorized through the end of 2024 as part of the 2018 Farm Bill extension.
“In reviewing 2023 margins and the more than 1.2 billion dollars in Dairy Margin Coverage payments issued to producers, Dairy Margin Coverage is proven to be a program to reduce risk for our dairy producers,” states FSA Administrator Zach Ducheneaux in the press release announcing the enrollment date.
National Milk Producers Federation President and CEO Gregg Doud released the following statement.
“DMC itself is improved from the previous farm bill, thanks to the permanent incorporation of updated production histories in the program, and recent low producer margins underscore just how critical DMC is for dairy farms of all sizes,” he says.
Producers are strongly encouraged to take advantage of this opportunity, as the DMC program is authorized through the end of 2024 as part of the 2018 Farm Bill extension.
“In reviewing 2023 margins and the more than 1.2 billion dollars in Dairy Margin Coverage payments issued to producers, Dairy Margin Coverage is proven to be a program to reduce risk for our dairy producers,” states FSA Administrator Zach Ducheneaux in the press release announcing the enrollment date.
National Milk Producers Federation President and CEO Gregg Doud released the following statement.
“DMC itself is improved from the previous farm bill, thanks to the permanent incorporation of updated production histories in the program, and recent low producer margins underscore just how critical DMC is for dairy farms of all sizes,” he says.
