USDA Announces Risk-Management Revisions Affecting Dairy

May 06, 2021

USDA on April 28 announced an update of its livestock insurance policies intended to improve options for producers and create additional opportunities for producers to participate. NMPF, which in the last Farm Bill played a critical role in allowing Risk Management Agency programs to allocate unlimited funds for dairy farmers to protect themselves against market volatility, urges dairy producers to consider the new provisions when making risk-management plans.

The USDA Risk Management Agency (RMA) updates to the Dairy Revenue Protection (DRP) and Livestock Gross Margin (LGM) policies will be effective for the 2022 and succeeding crop years.

DRP, which covers about 30% of U.S. milk production, paid roughly $478 million to dairy producers in 2020 as the COVID-19 pandemic brought heightened volatility to markets. Changes for the 2022 crop year include:

Ensuring the Class Pricing Option remains available for purchase even when either the Class III or Class IV milk price is not published.
Relaxing records requirements by allowing monthly total pounds of milk and milk components (butterfat and protein) to be acceptable records instead of daily.
Modifying weekend sales period to end on Sunday at 9 a.m. Central Time.

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Video: Veteran Farmers: A Legacy of Service in Rural America

Veterans Day is a time to honor the men and women who have selflessly protected our freedoms and values. And for some, the transition from military service to civilian life brings them back to the farm.

At Farm Bureau, we believe it’s important to not only celebrate veterans but also those who continue to make a difference in agriculture and their community. We've partnered with Farm Credit to establish the Veteran Farmer Award of Excellence to shine a light on those who have continued to go above and beyond to serve their communities.

This year, we recognize retired Colonel Joe Ricker as the inaugural Veteran Farmer Award of Excellence winner. Joe served over 30 years in the Army before retiring from the Pentagon and completing tours in both Iraq and Afghanistan. Since leaving the Army, his commitment to excellence in farming and enriching the lives of veterans has blossomed in a myriad of ways in both his local community of Wilkinson, Indiana, and across the country. Joe grows apples and raises bees on his farm in Indiana. Joe founded “Veterans IN Farming,” an organization, now with more than 1,100 members, dedicated to providing veterans in Indiana with the tools and training to succeed in agriculture.

The American Farm Bureau Federation is an independent, non-governmental, voluntary organization, comprised of and directed by farm and ranch families who engage in all types of food, fuel and fiber production.