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National & World Ag News Headlines |
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Sign-up Deadline for Round 2 of MFP, DMC is Approaching
USAgNet - 12/04/2019
Time is running out for dairy producers to submit their paperwork for the second tranche of 2019 Market Facilitation Program payments aimed at assisting farmers suffering from damage due to unjustified trade retaliation by foreign nations. MFP
signup at local Farm Service Agency offices will run through December 6.
The Dairy Margin Coverage program is also open to enrollment until December 13. The DMC program offers reasonably priced protection to dairy farmers when the difference between the all-milk price and the average feed cost (the margin) falls
below a certain dollar amount selected by the farmer. Dairy farmers have earned more than $300 million from the 2019 program.
"We are confident that the trade negotiations currently taking place will provide stronger trade agreements and ultimately benefit U.S. agriculture, but until then, there's only so much we can do," says John Rettler, president of FarmFirst Dairy
Cooperative in Madison. "We cannot be certain of how markets will play out in 2020, however, participating in the MFP program may help farmers in the short term and enrolling in DMC may provide valuable protection when the markets may be
unforgiving."
Nearly half of the producers who have signed up so far are taking advantage of the 25 percent premium discount by locking in for five years of margin protection coverage through the Farm Service Agency.
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