Risk Management Program Keeps Prices Stable, Protects Michigan Producers from Sudden Economic Challenges
U.S. Senator Debbie Stabenow, Chairwoman of the Committee on Agriculture, Nutrition and Forestry, encouraged dairy farmers to register by Dec. 5 for the new dairy Margin Protection Program (MPP) that gives farmers the certainty and tools they need to continue reliably supplying milk products to consumers. This program, which was authorized by the 2014 Farm Bill and is administered by the U.S. Department of Agriculture, offers participating farmers assistance if milk prices fall below profitable margins due to circumstances beyond their control.
“We cannot afford to have our dairy farmers go bankrupt when there are sudden market swings, which is why we put together this new program,” Stabenow said. “I strongly encourage dairy producers across the nation to enroll in this program before the December 5 deadline. Families need a reliable supply of dairy products at the grocery store, and that means we need to make sure our farmers can keep producing some of the very best dairy products in the world.”
A new, innovative web tool developed in part by Michigan State University was launched in conjunction with MPP to help Michigan dairy producers enroll in the program and make decisions based on their own unique needs and operations. The web tool, available at www.fsa.usda.gov/mpptool, provides a series of interactive features allowing producers to review historical data as well as future projections to make decisions that make the most sense for them.