United States Department of Agriculture Secretary Tom Vilsack recently announced that approximately $11.2 million in financial assistance will be made available to American dairy producers enrolled in the 2016 Margin Protection Program for Dairy.
"We understand the nation's dairy producers are experiencing challenges due to market conditions," said Vilsack in a prepared statement. "MPP-Dairy payments are part of a robust, comprehensive farm safety net that helps to provide dairy producing families with greater peace of mind during tough times."
In a USDA news release, Vilsack urged dairy producers to use this opportunity to evaluate their enrollment options for 2017, as the enrollment period is scheduled to end Sept. 30, 2016.
According to the release, 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.
Dairy producers who enrolled at the $6 through $8 margin trigger coverage level will receive payments, according to the release. State specific payment amounts can be found at www.fsa.usda.gov/dairy.
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