Webinar to Update Dairy Producers on Margin Protection Program
Iowa State University Extension and Outreach, in partnership with extension programs in four other states, will present a webinar to help dairy producers understand changes made to the Margin Protection Program by the United States Department of Agriculture.
The webinar will be shown at 11:30 a.m. on Wednesday, May 2. It will feature Marin Bozic, assistant professor in dairy foods marketing economics at the University of Minnesota. Online registration for the webinar is free. It is sponsored by extension dairy specialists from Iowa, Minnesota, Nebraska, North Dakota and South Dakota, as well as Minnesota Milk, Iowa State Dairy Association, Nebraska State Dairy Association, North Dakota Livestock Alliance, South Dakota Dairy Producers and the I-29 Moo-University Collaboration.
Changes to the Margin Protection Program for dairy producers were made within the Bipartisan Budget Act, which became law on Feb. 9, 2018. These changes include a new signup for 2018, which began on April 9, 2018, and will end on June 1, 2018.
Additional changes to the Milk Protection Program include:
- Revised premium costs for Tier 1 levels
- Tier 1 volume was increased from 4 to 5 million pounds
- Indemnities are now determined monthly
- There is an exemption for the administrative fee for limited resource, beginning, veteran and disadvantaged producers. Dairy operators who were enrolled previous to 2018 and paid the administrative fee may request a refund if they qualify for this exemption.
Producers will need to register and complete form CCC-782, along with electing a coverage level if they want coverage for 2018. Additionally, a $100 administrative fee will be assessed unless a qualified waiver is available.
“It is important to note that the new signup allows producers to make new elections for 2018, even if you had previously signed up, that are now retro-active back to Jan. 1, 2018,” said Fred Hall, dairy specialist with ISU Extension and Outreach. “Producers should also note that if they previously elected coverage for 2018 they must now make a new election or they will not have coverage in 2018.”
Mon, 04/30/2018 – 15:17
Source: Dairy Herd