U.S. Department of Agriculture announced a deadline extension for dairy margin coverage programs enrollment to help producers.
Enrollment for Dairy Margin Coverage and Supplemental Dairy Margin Coverage programs for next year has been extended to Jan. 31, 2023, according to a Dec. 8 Farm Service Agency news release.
"We recognize this is a busy time of year with many competing priorities, so we've extended the DMC enrollment deadline to ensure every producer who wants coverage for 2023 has the opportunity to enroll in the program," FSA Administrator Zach Ducheneaux said in the news release. "Early projections indicate DMC payments are likely to trigger for the first eight months in 2023. We all know that markets fluctuate, sometimes at a moment’s notice and sometimes with no warning at all, so now’s the time to ensure your operation is covered. Please don’t let this second chance slide."
FSA's dairy margin coverage programs are open to dairy producers to allow them to voluntarily manage their risks, particularly during volatile economic periods. The programs provide dairy producers protection "when the difference between the all-milk price and the average feed price (the margin) falls below a certain dollar amount selected by the producer," the news release said.
DMC offers varying coverage levels, including one free to producers, aside from a $100 administrative fee, according to the release. Producers who are new, have limited resources, are socially disadvantaged and military veteran farmers and ranchers are exempt from from the administrative fee, upon request.
