Join the PA Association of Milk Dealers, Center for Dairy Excellence, and Herbein and Company
Dairy producers are invited to a free webinar on Thursday, January 20 from 1-3 p.m. Hosted by the Pennsylvania Association of Milk Dealers (PAMD) as part of an educational programing requirement for the USDA Pandemic Market Volatility Assistance Program (PMVAP), the webinar will feature two guest speakers from the Center for Dairy Excellence and Herbein and Company. Speakers will share dairy market fundamentals and risk management strategies as well as an in-depth discussion about milk checks to help dairy producers understand the factors they can control within their milk checks.
“As we work with the USDA to establish agreements for PMVAP relief payments for participating dairy producers, we are excited to offer this in-depth educational program,” said Rob Fulton, Executive Director at the Pennsylvania Association of Milk Dealers. “Market volatility and revenue from milk checks are two realities dairy producers face every day, so we encourage dairy producers to take some time in the new year to join us for this webinar and expand their knowledge on these two very important topics.”
Learn more about the webinar program:
- Dairy Markets 101: Understanding Dairy Markets and Risk Management – Center for Dairy Excellence. Dairy producers will learn how risk management can be used to help minimize impacts of unexpected milk price declines.
- Understanding Your Milk Check – Herbein and Company. Dairy producers will gain an in-depth understanding of how milk checks are paid, what factors producers can control, and where the prices come from. Attendees will also learn about sources of revenue from a milk check, including milk components and revenue that comes from federal orders and market and government premiums.
“Dairy markets are difficult, if not impossible, to predict. Volatility seems to be the name of the game. During the Dairy Markets 101 portion of the webinar, we’ll take a look at how some of the different dairy market fundamentals interact with each other to cause this volatility and how risk management can help you manage unpredictable milk markets,” said Zach Myers, Risk Education Manager at the Center for Dairy Excellence.
The free webinar will be held virtually on Thursday, January 20 from 1-3 p.m. For producers without Internet access, there will be options to watch a live stream of the webinar at a physical location in their community.
To join the webinar on January 20, visit www.centerfordairyexcellence.org/dairy-webinar. For more information or to request the webinar to be live streamed at a physical location, contact Rob Fulton at ExecutiveDirector@pamd.org or call 717-433-6813.
The USDA Pandemic Market Volatility Assistance Program (PMVAP) is set to pay dairy producers for 80 percent of the difference per month based on an annual production cap of 5 million pounds of milk marketed and on fluid milk sales for the second half of 2020. Designed for dairy producers who sold milk pooled in the Federal Milk Marketing Order during July – December 2020 timeframe, the program’s goal is to address the lost Class I value of milk due to the Class I skim value formula change.