Dairy producers will now have seven extra weeks to enroll for either DMC or SDMC for this coming production year. Rod Bain has more details.
Nearly 18,000 operations that enrolled in DMC for 2022 have received margin payments for August and September for a total of $76.3 million. At $0.15 per hundredweight for $9.50 coverage, risk coverage through DMC is a relatively inexpensive investment.?
Last year, USDA introduced Supplemental DMC, which provided $42.8 million in payments to better help small- and mid-sized dairy operations that had increased production over the years but were not able to enroll the additional production. Supplemental DMC is also available for 2023.? The enrollment period for 2023 Supplemental DMC is also extended to Jan. 31, 2023.
Supplemental DMC coverage is applicable to calendar years 2021, 2022 and 2023.? Eligible dairy operations with less than 5 million pounds of established production history may enroll supplemental pounds.??
For producers who enrolled in Supplemental DMC in 2022, the supplemental coverage will automatically be added to the 2023 DMC contract that previously established a supplemental production history.?
For more information contact your local USDA Service Center.