The USDA has stated that dairy farmers may sign up for 2024 Dairy Margin Coverage (DMC) between February 28 and April 29, with payments commencing as early as March 4, 2024, for any payments triggered in January 2024. The Farm Service Agency (FSA) has amended the DMC regulations to allow eligible dairy operations to make a one-time adjustment to established production history by combining previously established supplemental production history with DMC production history for dairy operations that participated in Supplemental Dairy Margin Coverage during a previous coverage year. DMC is also approved till 2024. Congress enacted an extension of the Farm Bill in 2018 that required certain regulatory adjustments to the program. FSA Administrator Zach Ducheneaux urges farmers to participate in this critical safety net program, which paid out over $1.2 billion in Dairy Margin Coverage payments to producers last year. DMC is a voluntary risk management program that protects dairy farmers when the gap between the all-milk price and the average feed price falls below a monetary amount determined by the producer. NMPF is ready to support producers in any manner possible via this program, and we look forward to working to ensure farmers obtain a new farm bill that offers stability for the next many years, not just 2024.
For more information on DMC, visit the DMC webpage.
