The webinar covering dairy risk tools, including dairy revenue protect and dairy margin coverage programs was held on Friday, May 17 with 115 in attendance. The webinar was recorded and each presentation can be viewed at:
Part 1 with Dr. Marin Bosic:
Part 2 with Cassie Monger and Josh Newton:
Here are some “take-home” messages for each program.
Continue reading “Dairy Webinar Archived Edition Available”
A discussion of changes dairymen should be aware of in the new farm bill will be led by Dr. Marin Bozic, Assistant Professor in the Department of Applied Economics at the University of Minnesota beginning at noon on Thursday, December 27. There is no fee, but registration is required at: http://bit.ly/DMC-2019-FarmBill
The program will highlight and discuss the economic implications of five points:
- Margin Protection Program for Dairy Producers discontinued.
- Dairy Margin Coverage program introduced.
- Low premiums and coverage levels up to $9.50. Discounts for consistent use.
- Partial rebate of net MPP premiums paid for 2015-2018 period.
- No more restrictions on combining crop insurance and Title I programs (LGM and DMC
There will be time for questions at the end of the presentation.
The program is sponsored by I-29 Moo University and Minnesota Milk. For more information contact your state dairy specialist. In Northwest Iowa that is Fred M. Hall. He can be contacted by calling 712.737.4230 or by email at firstname.lastname@example.org.
Quick Facts About Dairy Revenue Protection (Dairy RP)
- Dairy RP is a new RMA-backed crop insurance product which allows you to protect against falling milk prices.
- Dairy RP is subsidized from 44% to 59%. The 95% coverage level will receive a 44% subsidy.
- Dairy RP can be purchased any business day except holidays and 3 USDA dairy report days per month.
- There are no milk production limits.
- Premium due at end of the quarter.
- It can be used even if you have MPP.
- The pricing options include Class III, Class IV and components.
- You can buy quarterly coverage for 5 quarters. For example, the first 5 quarters offered will be: Jan, Feb, Mar 2019 — April, May, June 2019 — July, Aug, Sept 2019 — Oct, Nov, Dec 2019 and Jan, Feb, Mar 2020.
- There are no commissions or fees paid by you.
The Dairy Directions Seminars are scheduled for Tuesday, Dec. 11 in Sac County and Wednesday, Dec. 12 in Pocahontas County. Both programs will be held at the local Iowa State University Extension and Outreach county office.
Registration starts at 9:00 a.m. and the program begins promptly at 9:30 a.m. A free lunch is included, and the program will adjourn at 1:45 p.m.
Continue reading “Dairy Programs set for Sac and Pocahontas Counties in December”
USDA in conjunction with its Risk Management Agency recently unveiled the Dairy Revenue Protection (Dairy-RP) program, which is designed to insure against unexpected declines milk sales on a quarterly basis at a guaranteed coverage level. The revenue will be based upon futures prices for milk and dairy commodities with the coverage level elected by the producer.
The I-29 Moo University and Minnesota Milk are co-hosting a webinar – Dairy Revenue Protection: How to Make 2019 an Upside-Only Year, to help explain the details of the program and how producers can participate to help influence the outcome of their individual bottom line break-evens. Dr. Marin Bozic, Assistant Professor in Dairy Foods Marketing Economics in the Department of Applied Economics at the University of Minnesota will be presenting the information on Tuesday, October 23rd from 12:00 p.m. – 1:00 p.m. (CDT) during a webinar. To sign-up to participate in the webinar go to https://bit.ly/2NwW6eF to register and receive a direct link for the webinar.
Continue reading “Dairy Revenue Protection Program and Webinar Offered”
On August 8, the U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) today announced a new insurance plan for dairy producers that insures against unexpected declines in quarterly milk sales. Sign-up for the new product begins Tuesday, October 9,2018, with the first available coverage starting the first quarter of 2019.
“Expanding the Federal crop insurance program to markets that need it is key to an effective farm safety net. Because of cooperation with partners like the American Farm Bureau Federation, we are able to offer this new product in a way that it can be flexible based on the needs of dairy producers,”said Bill Northey, Under Secretary, Farm Production and Conservation.
Continue reading “Details Of Dairy Revenue Protection Insurance Plan Announced”