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June Dairy Month just got a little better for many U.S. dairy producers. In addition to extending the enrollment deadline for the Margin Protection Program for Dairy (MPP-Dairy) another week, USDA provided up-to-date details regarding program enrollment and payments. Bill Northey, USDA undersecretary for farm production and conservation, provided the update during a conference call on June 5.
Digest Highlights: Droughty dairy areas primarily in the Southwest. USDA reopens disaster programs. Two dairy promotion groups merge. May milk prices improve a little in federal, California orders. Find these and other news summaries affecting dairy farmers here.
U.S. Agriculture Secretary Sonny Perdue has approved a one-week extension for producers to sign up for the Margin Protection Program for Dairy (MPP-Dairy). Producers now have until June 8 to enroll in MPP-Dairy for 2018; the original deadline was June 1.
The USDA’s Farm Service Agency (FSA) will begin processing Margin Protection Program for Dairy (MPP-Dairy) payments for participating dairy farmers on June 4, according to a notice sent to state and county FSA offices on May 31. Payments will be issued directly to producers via electronic deposit; there will be no paper checks, according to Wayne Maloney, in the FSA public affairs office, Washington, D.C.
Interest rates on farm loans continued to increase in the first quarter of 2018, based on quarterly reports from Federal Reserve district banks in the U.S. heartland (Table 1). In most cases, average interest rates on all loan types were the highest since mid-2011 to early 2012.
Dairy farmers who enroll in the 2018 Margin Protection Program for Dairy (MPP-Dairy) and elect $7, $7.50 or $8 per hundredweight (cwt) margin coverage are now guaranteed indemnity payments for February, March and April milk production. But, they have until the end of the day on Friday, June 1, to take action.
Digest Highlights: The USDA will buy $20 million worth of cheddar cheese. Kentucky grant benefits struggling consumers, producers. Find these and other news summaries affecting dairy farmers here.
Digest Highlights: Dairy organizations launch campaign to show dairy industry’s economic impact. House may take another vote on 2018 Farm Bill in late June. March fluid milk sales down again. Most common agribusiness insurance claims revealed. Find these and other news summaries affecting dairy farmers here.
