New Market Protection for US Dairy Farmers
US – Farmers can opt into a new margin protection programme to assist their businesses when milk margins fall below a selected level.
1 September 2014
1 minute read
This will be backed up by an online tool helping producers determine what level of coverage will provide an appropriate ‘safety net’, the US Department of Agriculture has announced.
The voluntary programme, as part of Farm Bill 2014, is part of a range of measures to provide farmers with security and the ability to manage risk beyond their control.
This was agriculture secretary Tom Vilsak’s summary of the initiative, to be supported by a 24 hours, seven days a week calculator which will combine farmer data with other market variables to arrive at a level of coverage based on future price projections.
“The supplemental Web tool will empower the nation's 46,000 dairy producers to make decisions that make sense for them,” explained Mr Vilsak.
“We've made tremendous progress in implementing new risk management programmes since the Farm Bill was signed over six months ago.”
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