MILC payments resume next week
Beginning February 5th, USDA will issue payments to dairy farmers enrolled in the Milk Income Loss Contract (MILC) program for milk sold in September, 2012. The MILC program was extended on January 1st as part of the fiscal cliff package and all MILC contracts were automatically extended to September 30, 2013. Eligible producers therefore do not need to re-enroll in MILC.
The payment rate for September 2012 is approximately $0.59 per hundredweight. The payment rate for October 2012 marketings is approximately $0.02 per hundredweight. The payment rate for November 2012 marketings is zero.
Before the October MILC payment can be issued, dairy farmers must complete a new Average Adjusted Gross Income (AGI) form for 2013. Producers may obtain CCC-933 at their local USDA Service Center or online at www.fsa.usda.gov/ccc933.
Dairy operations may select a production start month other than October 2012. Producers who want to select a production start month other than October 2012 must visit their local FSA office between February 1 and February 28, 2013, also known as a relief period.
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