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Dairy Margin Coverage program opening for 2024
The USDA will open enrollment for the 2024 Dairy Margin Coverage program Wednesday.
Farm Service Agency Administrator Zach Ducheneaux says more than $1.2 billion were issued to producers in 2023 with margins during 11 months triggering payments. Catastrophic coverage was granted in June and July of last year.
USDA says it has revised regulations for farmers to adjust to their most recent milk production history as part of this year’s sign-up.
Margin levels for January will be calculated at the end of the month and USDA will issue retroactive payments as soon as March 4th.
Dairy farmers in 2023 experienced the lowest margins ever recorded by USDA dairy margin programs during the past decade.
Several dairy groups are encouraging farmers to sign up before the April 29 deadline.
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