Time is Dwindling to Enroll in DMC Program
There’s a few more days before time runs out on signing up for the Dairy Margin Coverage (DMC) program. The deadline to sign up is Friday Sept. 20.
DMC took the place of the Margin Protection Program (MPP-Dairy). According to Michigan FSA director Joel Johnson, the new program has more choices and the premiums are less expensive.
“DMC is the newer, improved version of the MPP, so there are some similarities,” he said. “[Dairy producers] can select coverage range from $4 up to $9.50 per hundredweight, and there’s an associated premium based on the amount of coverage.”
Johnson said its important dairy producers know the deadline is Friday because the local FSA offices want to help them. If dairy producers participated in the former MPP program, they will likely have refunds coming to them for a percentage of premiums paid.
“That goes away on Friday,” he said. “They have an opportunity to choose 50 percent if they decide to take it in cash or decide to apply it against premium for DMC. They can receive 75 percent of that refund.”
The program is voluntary, but Johnson wants to encourage producers to participate before it’s too late.
“It’s a great way for them to protect their risk and receive a payment that could be a big help,” said Johnson.
To sign up for DMC, visit your local FSA office before Friday Sept. 20.