RENO - Agriculture Secretary Tom Vilsack recently announced that starting Sept. 2, farmers can enroll in the new dairy Margin Protection Program. The voluntary program, established by the 2014 Farm Bill, 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.
The U.S. Department of Agriculture (USDA) also launched a new Web tool to help producers determine the level of coverage under the Margin Protection Program that will provide them with the strongest safety net under a variety of conditions. The online resource, available at www.fsa.usda.gov/mpptool, allows dairy farmers to quickly and easily combine unique operation data and other key variables to calculate their coverage needs based on price projections. Producers can also review historical data or estimate future coverage based on data projections. The secure site can be accessed via computer, Smartphone, tablet or any other platform, 24 hours a day, seven days a week.
"We've made tremendous progress in implementing new risk management programs since the Farm Bill was signed over six months ago," said Vilsack. "This new program is another example of this Administration's commitment to provide effective safety net programs that allow farmers and ranchers to manage economic risks beyond their control. And the supplemental Web tool will empower the nation's 46,000 dairy producers to make decisions that make sense for them."
Enrollment ends on Nov. 28, 2014, for 2014 and 2015. Participating farmers must remain in the program through 2018 and pay a minimum $100 administrative fee each year. Producers have the option of selecting a different coverage level during open enrollment each year.
For more information, visit www.usda.gov/farmbill.
Visit FSA online at www.fsa.usda.gov/factsheets, or stop by a local FSA office to learn more about the Margin Protection Program or the Dairy Product Donation Program.
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