Agriculture Secretary Tom Vilsack, speaking at the National Milk Producers Federation annual meeting I Grapevine, Texas, announced extended deadlines for the Dairy Margin Protection Program. Farmers now have until Dec. 5, 2014, to enroll in the voluntary program, established by the 2014 Farm Bill.
The program provides financial assistance to participating farmers when the margin – the difference between the price of milk and feed costs – falls below the coverage level selected by the farmer.
"We want dairy producers to have enough time to make thoughtful and well-studied choices," said Vilsack. "Markets change and the Margin Protection Program can help protect dairy producers from those changes."
Vilsack encouraged producers to use the online Web resource at www.fsa.usda.gov/mpptool to calculate the best levels of coverage for their dairy operation. "Historical scenarios also can be explored to see how the Margin Protection Program would function should poor market conditions occur again in the future," said Vilsack. The secure website can be accessed via computer, smartphone or tablet.
The U.S. Department of Agriculture (USDA) also extended the opportunity for public comments on both the Margin Protection Program and the Dairy Product Donation Program until Dec. 15, 2014.
"USDA is committed to creating strong opportunities for the next generation of farmers and ranchers. When dairy producers bring new family members into the business, these changes could affect safety net coverage," said Vilsack. "If our current rules hinder intergenerational changes or if improvements are needed in these programs, then we want to hear from dairy producers."
Comments can be submitted to USDA via the regulations.gov website at http://go.usa.gov/GJSA.
Last week Kansas State University held a Webinar which provided an overview of the new Dairy Margin Protection Program and how producers might benefit from it to manage risk on their operations. The workings of the program and tools available to make the sign-up decision were presented. Listen to a replay of the Webinar at http://bit.ly/KSTATEDMPP.