On Final Day, NMPF Urges Dairy Farmers to Sign Up for DMCFri, 11 Dec 2020 09:03:46 CST
The National Milk Producers Federation (NMPF) is urging dairy farmers to sign up for 2021 coverage under the Dairy Margin Coverage (DMC) program if they haven’t yet done so, as today is the final day producers may enroll in the main federal dairy-farmer risk-management program. NMPF is advising any producer who wants to enroll in DMC for 2021 to contact their local Farm Service Agency office by the close of business today to at least notify them of intent to enroll.
“Given the current economic outlook and the heightened uncertainties of 2021, DMC signup, especially at the maximum $9.50 coverage level, is the rational choice for dairy producers,” said Jim Mulhern, NMPF President and CEO. “But to take advantage of this program, farmers need to sign up now.”
The DMC, the main federal risk-protection tool for dairy farmers, is currently projected to pay all producers enrolled at the maximum $9.50/cwt. coverage level through much of 2021. The program, which by year’s end may end up with payments for five months of 2020, offers protection against volatile market conditions that are expected to persist well into next year.
NMPF has produced an easy-to-digest brochure highlighting the benefits of DMC coverage and an explanation of how the program works. Dairy producers can also visit NMPF’s page on risk management to learn more about DMC and other tools to promote financial security for dairy operations.
Today is also the signup deadline for the second round of Coronavirus Food Assistance Program disaster payments.
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