Dairy margin protection meeting set
ORANGE CITY – A Margin Protection Program for Dairy meeting is set at 10 a.m., Sept. 11, at the Iowa State University Extension office in the basement conference rooms, 400 Central Ave. NW in Orange City.
The 2014 Farm Bill changed dairy farm support programs from the Milk Income Loss Contract to the insurance-based MMP.
University of Nebraska-Lincoln extension educator, Robert Tigner will present new analysis as well as MPP information.
MMP allows dairy farmers an opportunity to protect against declines in the difference between a two-month average U.S. milk price and a two-month average feed cost. The 2014 Farm Bill specifies how milk price and feed cost is determined and each is used to calculate a “U.S. milk margin.”
Dairy farmers can select margin coverage from $4-8 in 50 cent increments. Farmers also choose the amount of historic milk production covered from 25 percent to 90 percent in 5 cent increments.
MPP premiums for 2016 have two tiers of cost, less than 4 million pounds of milk production covered and 4 million and above. Premiums must be paid either fully at coverage election time or 25 percent by Feb. 1 with the remainder by June 1.
To register contact the ISU Extension Office-Sioux County by Sept. 7 at (712) 737-4230, or ISU Extension dairy specialist Ryan Breuer, email: email@example.com.
For more MPP information contact Robert Tigner at (308) 345-3390, email: firstname.lastname@example.org.
A sign up period is underway for MPP program participation in 2016 until Sept. 30 at designated Farm Service Agency offices.
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