2024 Dairy Margin Coverage Enrollment Open

As of February 28, dairy farmers are now able to enroll for 2024 Dairy Margin Coverage (DMC). This year’s DMC signup began Feb. 28, 2024, and ends April 29, 2024. For those who sign up for 2024 DMC coverage, payments may begin as soon as March 4, 2024, for any payments that triggered (retroactively) in January 2024. The DMC program provides a level of risk protection to dairy producers under low margin conditions, whether caused by low milk prices, high feed costs, or both. This voluntary program provides payments when the calculated national margin falls below a producer’s selected coverage trigger. The margin is the difference between the average price of feedstuffs (the price of a ration of hay, corn and soybean meal) and the national all milk price. On February 6, Farm Bureau sent a letter today to U.S. Department of Agriculture Under Secretary Gloria Montaño Greene and Farm Service Agency Administrator Zach Ducheneaux urging the agencies to open enrollment as soon as possible. For 2024 DMC enrollment, dairy operations that established supplemental production history through Supplemental Dairy Margin Coverage for coverage years 2021 through 2023, will combine the supplemental production history with established production history for one adjusted base production history. For dairy operations enrolled in 2023 DMC under a multi-year lock-in contract, lock-in eligibility will be extended until Dec. 31, 2024. In addition, dairy operations enrolled in multi-year lock-in contracts are eligible for the discounted DMC premium rate during the 2024 coverage year. To confirm 2024 DMC lock-in coverage or opt-out in favor of an annual contract for 2024, dairy operations having lock-in contracts must enroll during the 2024 DMC enrollment period. 

You may also like