News

Margin protection crop deadline nears

An extension educator is encouraging farmers to consider margin protection insurance next year for some field crops.

Farm Business Management Educator Jon LaPorte with Michigan State University Extension tells Brownfield USDA has expanded coverage of their Margin Protection program to more counties in 2024.

“Tightening margins is still a concern going into 2024, which makes programs like margin protection something to think about as an option to help mitigate some of the risks that may be out there,” he says.

He says declines in input costs usually lag lower profit margins and the added coverage can be used with other crop insurance programs.

“It uses county yields versus your individual yield, and it does somewhat stack on top of the yield and revenue protection policies,” he says.

USDA increased coverage of the program to include all corn and soybean counties in March because of increased demand by farmers.

The Margin Coverage Program enrollment deadline is September 30^th.