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Enrollment Period For 2016 Margin Protection Program For Dairy Producers Begins; Deadline Is Sept. 30
The enrollment period for the US Department of Agriculture’s (USDA) 2016 Margin Protection Program (MPP) for dairy producers started on July 1, 2015, Deputy US Secretary of Agriculture Krysta Harden announced here Monday.
The enrollment period for coverage in 2016 ends on September 30, 2015. Participating producers will remain in the program through 2018 and pay a $100 administrative fee each year.
Last year, during the initial sign-up period for the MPP (Sept. 2 through Dec. 19), more than half of the country’s licensed dairy operations enrolled in the 2015 program, “which exceeded our expectations for the first year of the program,” Harden said.
Established under the 2014 farm bill, the Margin Protection Program is a voluntary risk management program that offers protection to dairy producers when the difference between the all-milk price and the average cost of feed — the margin — falls below a certain dollar amount selected by the producer. The average feed cost includes the price of corn, soybean meal and alfalfa hay.
The margin is calculated each consecutive two-month period consisting of months January/February, March/April, May/June, July/August, September/October, and November/December.
MPP payments are based on an operation’s historical production.
An operation’s historical production will increase by 2.61 percent in 2016 if the operation participated in 2015.
Catastrophic coverage of $4.00 margin coverage level at 90 percent of the established production history requires no premium payment, but the dairy operation must pay the $100 ... Send me more information