The National Milk Producers Federation (NMPF) has updated both its website and its on-line tools to assist dairy farmers in evaluating the 2017 Dairy Margin Protection Program. Enrollmentfor 2017 started July 1 and will end September 30.
"The poor margins in the first half of 2016 demonstrate that the Margin Protection Program can play an important role in helping America's dairy farmers manage their financial risks," says Jim Mulhern, president and CEO of NMPF."While we continue to examine ways to improve the program in the future, farmers need to carefully consider their risk management coverage options in 2017."
NMPF is offering the following materials on the website's Resources page:
¬∑Overview of the Margin Protection Program
¬∑A link to the MPP online calculator
¬∑How to use the MPP online calculator
¬∑Informative PowerPoint presentation on MPP
¬∑Frequently Asked Questions
¬∑MPP Margin Spreadsheet of Milk and Feed Prices, 2007-2015
New this year is that once farmers sign-up, they will receive the $4/cwt catastrophic coverage on 90% of their production base, even if they buy-up supplemental coverage on less than 90% of the base. Farmers are also able to submit applications for additional historic base coverage to cover the additional milk produced if family members (children, grandchildren, spouses) are brought in to the operation.
And those enrolled in the MPP in 2015 will receive a 1.3% increase in their farms' 2016 production histories to reflect the growth in the national milk supply.