Dairy producers can now enroll for 2023 coverage through the Dairy Margin Coverage Program.
The program helps dairy farmers manage changes in milk and feed prices.
Enrollment for the program runs through December 7.
Last year, USDA’s Farm Service Agency took steps to improve coverage, especially for small and medium sized dairies, including offering a new Supplemental DMC program and updating its feed cost formula to better address retroactive, current and future feed costs.
DMC is a voluntary risk management program that protects dairy producers when the difference between the all-milk price and the average feed price, which is the margin, falls below a certain dollar amount selected by the producer.
National Milk Producers Federation President and CEO Jim Mulhern encourages dairy producers to consider the maximum coverage under the program.
Mulhern says, “The current combination of high prices with costs that can be even higher illustrates the basic value of DMC for producers who can benefit from the program.”
