The U.S. Department of Agriculture is working to roll out the Dairy Margin Coverage program in the new farm bill with the goal of making it available this spring. DMC replaces the Margin Protection Program. Minnesota Milk Producers Association President Dave Buck says he’s hoping the agency gets the insurance program out soon because it’s needed by producers with the current low milk prices and it’s much better than the MPP.
He says DMC is better coverage for less cost to the dairy producer.
Those who participated in MPP for 2014 through 2017 are being given two options under the new farm bill. They can get 50 percent of their insurance premiums back in direct cash or they can receive a 75 percent refund to use as a credit for purchasing coverage under DMC. Buck says that’ll be helpful.
The USDA wants to get those options out by the end of April.
