Dairy Defined Podcast: Farmers Face Choices in 2020 DMC Signup

The information below has been supplied by dairy marketers and other industry organizations. It has not been edited, verified or endorsed by Hoard’s Dairyman.

With farmers receiving a $300 million financial boost via the 2019 Dairy Margin Coverage Program, signup is now underway for the 2020 program. But every year is different, and Chris Galen, NMPF’s Senior Vice President for Member Services and Strategic Initiatives, said farmers should be paying attention to prices, production histories and financial priorities as they consider their 2020 signup options.

“For those who aren’t locked in for the full five years, you have several choices to make,” he said. “You have to look at, do you want to ensure again at the $9.50 per hundredweight maximum coverage level, or is there a level below that, that you want to pay for? Again, the premiums are higher, the higher the levels of coverage that you choose.”

To listen to the full podcast, click here. You can find the Dairy Defined podcast on Spotify and SoundCloud.

The National Milk Producers Federation, based in Arlington, VA, develops and carries out policies that advance dairy producers and the cooperatives they own. NMPF’s member cooperatives produce more than two-thirds of U.S. milk, making NMPF dairy’s voice on Capitol Hill and with government agencies. For more, visit www.nmpf.org.