Wisconsin Ag Connection - Final Deadline for DMPP is December 19

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Final Deadline for DMPP is December 19
Wisconsin Ag Connection - 12/17/2014

After being extended twice this fall, the U.S. Department of Agriculture says farmers have one last opportunity this week to submit their paperwork for the Dairy Margin Protection Program. Producers have until Friday to enroll in the voluntary program, which was established by the 2014 farm bill to replace the Milk Income Loss Contract program.

U.S. Agriculture Secretary Tom Vilsack says a farmer can cover 90 percent of their production at $4 margin swings for a $100 fee. And with affordable incremental premiums, they can cover up to $8 margin swings.

"Those who apply this year will receive a slight increase in production protection that will not be available in the future," Vilsack noted. "Farmers who do not sign up for the Margin Protection Program for 2015 will forfeit the 1 percent base production increase. For a 400 cow operation, this would equate to an additional 80,000 pounds of milk that are eligible for coverage. It's a small step to take to ensure your business is covered."

The DMPP provides financial assistance to participating farmers when the margin--which is the difference between the price of milk and feed costs--falls below the coverage level selected by the farmer.

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