10-21 FB Gross Margin Dairy
RMA Announces Availability of Livestock Gross Margin Dairy. The U.S. Department of Agriculture’s Risk Management Agency (RMA) announces the availability of sales for the Livestock Gross Margin insurance plan for Dairy Cattle in all counties in Idaho, Oregon and Washington.
The first sales date for the 2012 crop year will be Friday, October 28, 2011. Sales will continue on the last Friday of each month until June 30, 2012 (or until the maximum underwriting capacity is reached). Here’s Risk Management spokesperson Jo Lynne Seufer who says so far the feds have money: “They give us $20 million a year to manage livestock programs.”
Livestock Gross Margin insurance plan for Dairy provides protection against loss of gross margin (market value of milk minus feed costs) on milk produced from dairy cows. The policies use futures prices to determine the expected gross margin and the actual gross margin.Dairy producers are encouraged to contact a livestock agent for further details. Federal crop and livestock insurance policies are sold and delivered solely through private crop and livestock insurance companies. A list of livestock insurance agents is available at all USDA Service Centers throughout the U.S. or at the RMA Web site: http://www3.rma.usda.gov/tools/agents/.
