The USDA is now offering financial help to dairy farmers that are enrolled in the 2016 Margin Protection Program for Dairy.
The payment rate for May/June 2016 will be the largest since the program began in 2014.
The narrowing margin between milk prices and the cost of feed triggered the payments, as provided for by the 2014 Farm Bill.
“We understand the nation’s dairy producers are experiencing challenges due to market conditions,” said Tom Vilsack, Agriculture Secreatry. “MPP-Dairy payments are part of a robust, comprehensive farm safety net that help to provide dairy producing families with greater peace of mind during tough times. Dairy operations enrolled in the 2016 MPP-Dairy program will receive approximately $11.2 million this month. I want to urge dairy producers to use this opportunity to evaluate their enrollment options for 2017, as the enrollment period is currently scheduled to end Sept. 30, 2016. By supporting a strong farm safety net, expanding credit options and growing domestic and foreign markets, USDA is committed to helping America’s dairy operations remain successful.”
Dairy producers who enrolled at the $6 through $8 margin trigger coverage level will receive payments.