News
Dairy market volatility prompts higher enrollments
The USDA’s Risk Management Agency (RMA) says more dairy farmers are taking advantage of the Dairy Revenue Protection Program as prices remain volatile through the COVID-19 pandemic.
RMA administrator Martin Barbre tells Brownfield in the last year and a half the program has grown from covering seven percent of U.S. milk production to nearly 30 percent.
“It’s really growing and growing through this period. We’ve grown from 25 to 27 plus percent just in the last month or so in coverage.”
He says the agency recently narrowed the daily and weekend timeframes when farmers can lock in prices for endorsements to better reflect futures trading. The program is also not sold on days when major USDA reports are released.
Add Comment