It's DMC Time! More information about 2022's Dairy Margin Coverage program.
Katelyn Walley-Stoll, Business Management Specialist and Team Leader
Southwest New York Dairy, Livestock and Field Crops Program
It's DMC Time! More information about 2022's Dairy Margin Coverage program sign ups from Katelyn Walley-Stoll.
You can now enroll and change your coverage options for your farm's DMC coverage, December 13, 2021 - February 18, 2022. There have been a few changes to this year's program, summarized below. Visit the Dairy Margin Coverage Program website for more information.
DMC provides voluntary risk management coverage to dairy producers. For a $100 administrative fee, farms can receive catastrophic coverage. For higher premiums, producers can elect to cover milk production at higher levels. DMC payments are triggered when the margin of the national milk price and average feed cost is below selected coverage levels.
DMC Decision Tool: Available at dairymarkets.org, this helpful resource has been updated with recent changes. The tool is interactive, so you can adjust coverage for specific scenarios for your farm.
Supplemental DMC Enrollment: If your milk production has increased from 2014 "historical milk production" levels, you can add supplemental coverage. This is for producers with less than 5 million pounds of production, using 2019 actual milk production and applies to 2021, 2022, & 2023.
Supreme Alfalfa: Previously, part of the feed cost was calculated by using 50% premium hay. This has been changed to 100% premium alfalfa.
Back payments: USDA is currently issuing payments for enrolled farms (2020 & 2021) that will reflect the updated feed cost calculation. NY Farms will see an estimated $12.5 million of retroactive payments.
Contact your local USDA Service Center for More Information: Allegany County, Cattaraugus County, Chautauqua County, Erie County, Steuben County
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What Can Go Wrong, Will Go Wrong!
Good ole' Murphy's Law is probably the best description of what it's like to be a farmer that there is! Join Cornell Cooperative Extension Farm Business Management Specialist, Katelyn Walley-Stoll, to learn more about the 5 areas of risk on farms and how to develop strategies to manage those risks. Participants will have the opportunity to identify areas of risk on their own farms and brainstorm ways to (try to) prevent the inevitable!
Registration is REQUIRED by visiting https://tinyurl.com/CCERisk or call Kelly at 585-268-7644.
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