The U.S. Department of Agriculture announced today that producers of nearly 17,000 dairy operations have signed up for the Dairy Margin Coverage program since signup opened in mid-June.
DMC offers protection to dairy producers when the difference between the all-milk price and the average feed cost falls below a certain dollar amount selected by the producer.
To date, more than 60 percent of dairies with established production histories have enrolled in the program including 702 in Michigan.
Producers who sign up can make claims back to January and receive more than $219.7 million in payments. During those months the income over feed cost margin was $8.63 per hundredweight which triggers the sixth payment for eligible dairy producers who purchased the $9 and $9.50 levels of coverage.
USDA’s Farm Service Agency began issuing program payments to producers on July 11.
Producers interested in 2019 coverage must sign up before September 20.
Source: WLNS
