By Jim Mulhern
“NMPF thanks Secretary Vilsack and USDA’s Farm Service Agency for extending the deadline for Dairy Margin Coverage Program signup to Jan. 31. With input costs at record highs and early projections showing possible DMC payments for the first eight months of 2023, it’s imperative that producers have time to consider their coverage needs and make choices that best fit their operations and risk-management plans.
“Farmers also should use this extended DMC signup period to consider USDA’s full suite of risk-management options, all supported by NMPF. While DMC is designed to promote stable revenues and protect against financial catastrophe for small and medium-sized producers, other options including the Dairy Revenue Protection (DRP) program and the Livestock Gross Margin for Dairy Producers (LGM-Dairy) program, both of which were revamped in the 2018 Farm Bill at NMPF’s urging, provide important and effective risk management.
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