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USDA Extends MPP Sign-up Deadline to Mid-December
USAgNet - 08/24/2016

U.S. Agriculture Secretary Tom Vilsack announced that the deadline to enroll for coverage in the Dairy Margin Protection Program for 2017 has been extended until December 16. The original sign-up was due at the end of September.

"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," said Vilsack.

The voluntary program, established by the 2014 farm bill, provides financial assistance to participating farmers when the margin falls below the coverage level selected by the farmer.

The USDA says the MPP gives participating dairy producers the flexibility to select coverage levels best suited for their operation each year. Participating farmers will remain in the program through 2018 and pay a $100 administrative fee each year.

Margin Protection Program payments are based on an operation's historical production. To complete enrollment, producers must make coverage elections during the enrollment period that provides basic catastrophic protection that covers 90 percent of milk production at a $4 margin coverage level. For additional premiums, operations can protect 25 to 90 percent of production history with margin coverage levels from $4.50 to $8, in 50 cent increments. Once enrolled, dairy operations are required to participate through 2018 by making coverage elections each year.

Vilsack made the announcement in conjunction with the USDA's decision to purchase $20 million of surplus cheese in an attempt to boost milk prices for dairy producers.


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