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More than Half of Those Enrolled in New Safety Net Choose Added Coverage

ARLINGTON, VA – The U.S. Department of Agriculture provided more specific information Friday about the extent of coverage chosen by dairy farmers enrolled for 2015 in the new Margin Protection Program (MPP), including a state-by-state breakdown of the percentage of farms using the new safety net.

Earlier this week, the USDA announced that more than half of U.S. dairy operations have enrolled in the MPP. Today, USDA provided an estimate that 55% of those farms elected to pay additional premiums to purchase a higher level of coverage, above the basic, $4 per hundredweight level offered for $100 per year.

Strong Start to New Insurance Safety Net Program

ARLINGTON, VA – The U.S. Department of Agriculture announced today that more than half of U.S. dairy operations have enrolled in the new Margin Protection Program (MPP) for dairy in 2015, “an encouraging start to this crucial new safety net program for our industry,” said Jim Mulhern, President and CEO of the National Milk Producers Federation.

The USDA reported Monday that more than 23,000 dairy operations signed up for the program during the three-month window that ran until December 19, 2014. That sum represents about half of the overall number of dairy farms in America.

CEO’S CORNER


Jim Mulhern
NMPF President
& CEO

 

The past couple of years began, for those of us in dairy, with hopeful expectations that Congress would pass a new farm bill, and with it, a new dairy program. Having finally crossed that hurdle last year, we begin 2015 with USDA’s implementation of the new Margin Protection Program for dairy, and look forward to the coverage it will provide.

Introducing the New Margin Protection Program

On August 28, 2014, the U.S. Department of Agriculture announced details for a long-awaited and much-improved safety net for dairy farmers. Developed by the National Milk Producers Federation and five years in the making, the new Dairy Margin Protection Program, or MPP, is the most significant rewrite of dairy policy in more than a generation. Sign-up concluded on December 19, 2014.

 

Use our website www.futurefordairy.com to find up-to-date information on how the program will work and how it can help limit the volatility in farmers’ margins.

 

A regular, detailed update on the margins between milk prices and feed costs can be downloaded from the Margin Protection Program webpage.

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