Center for Dairy Excellence and USDA
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The Center for Dairy Excellence is hosting a special “Protecting Your Profits” webinar on Friday, March 22 from 12-1 p.m. Titled “Protecting Your Profits, Protecting Your Margin with DMC” and led by Jayne Sebright, Executive Director at the Center, the webinar will feature Cynthia Walters, Agricultural Program Specialist with the USDA. Walters will provide an overview of changes in the Dairy Margin Coverage (DMC) Program for 2024. With the Farm Bill extended through December, DMC enrollment is now open, with dairy farmers having until April 29 to enroll in the margin-based insurance coverage program. The DMC margin has already been announced for January at $8.48 per hundredweight, yielding a $1.02 indemnity payment for those farms that choose a $9.50 coverage level.
In 2023, farms that enrolled in the DMC Program had an added layer of protection when milk prices fell to very low levels during the summer months. While futures prices do currently appear better than where they were in 2023, there is still a lot of uncertainty in the marketplace. Protecting your dairy against margin risks is an essential tool in managing your business throughout 2024.
In addition to the 2024 DMC updates, Jayne Sebright will provide a short recap on where dairy markets are and what factors could influence the margins going forward in 2024.
Individuals can join via conference call, webinar, or podcast format. A recording will be shared after the event. Make sure you are signed up for our email list to receive the recording.
How to Join:
Webinar Format
Visit www.centerfordairyexcellence.org/MarchPYP on Friday, March 22 at 12 p.m. to launch the webinar and watch live.
Conference Call Format
Individuals who would prefer to connect via conference call can dial the following number on Friday, March 22 at 12 p.m.:
Dial: 1-305-224-1968
Meeting ID: 862 7281 5599
Passcode: 302645
Podcast Format
Visit www.centerfordairyexcellence.org/pyp to listen to a recording of the “Protecting Your Profits” discussion in podcast format and subscribe to get notified when new episodes are released. The episode is expected to be published after the live webinar and conference call are concluded.