Wisconsin dairy farmers evaluate risk management options

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Wisconsin dairy farmers evaluate risk management options
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MADISON, Wis. — A change to the Dairy Margin Protection Program means Wisconsin dairy farmers can choose to opt out of the federal program and turn to other risk management strategies.

Wisconsin Public Radio reports that the U.S. Department of Agriculture no longer requires farmers to enroll in the safety net program. Farmers previously had to enroll for the duration of the Farm Bill, which is passed by Congress every four years and sets federal agriculture policy.

The program pays farmers if price drops or other events impact income. But industry groups have been working to create alternatives to the program for the 2018 Farm Bill.

The American Farm Bureau Federation has proposed a Dairy Revenue Protection plan that would be similar to crop insurance.

The Livestock Gross Margin program is another federal safety net available to farmers.

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