Print Page   |   Contact Us   |   Sign In   |   Join Today!
2019 Dairy Farm Bill, Financial, Insurance and Other Resources
Share |

Resources to prepare for 2019


2019 Wis. Ag Outlook Forum (Jan. 29, 2019)

Dr. Božić provides a presentation to the University of Wisconsin 2019 Agricultural Outlook forum on January 29, 2019. Dr. Bozic is followed by dairy farmer and Land O'Lakes chairman Pete Kappelman, then Phil Plourd and Sue Taylor.   

One-Hour Farm Bill Webinar 12/27/2019

  • Co-hosted by Minnesota Milk and I-29 Moo University, this webinar takes an in-depth look at features in the 2018 Farm Bill. The full-length is 1 hr 23 minutes. Featuring Marin Božić, Minnesota Milk contract economist, and facilitated by executive director Lucas Sjostrom, this is a follow-up to the 13-minute Farm Bill update produced on December 13.

 

A PDF of the slides from the above webinar: Click here for the webinar slides

13-minute Dairy Farm Bill Overview 12/13/2018

Want the general idea of what's in the 2018 Farm Bill for dairy? View this 13-minute video which will provide you a quick summary.

Dairy-RP Resources

A one-hour webinar produced by Minnesota Milk and I-29 Moo University in collaboration with Dairy-RP collaborator and contract economist Marin Božić. The sound quality is poor due to an extra microphone, but executive director Lucas Sjostrom and Bozic explain the program without providing a sales pitch. Watch it here: 

 

Click here for the Minnesota Milk and I-29 Moo University Dairy-RP Webinar

 

Or, tune into the AgChoice Farm Credit webinar as they explain the program:

Click here for the AgChoice Farm Credit Dairy-RP webinar

 

The Dairy-RP is available in all counties in all 50 states of the United States.  There are two base pricing options of coverage available.

  • The Class Pricing Option which uses a combination of Class III and Class IV milk prices as a basis for determining coverage and indemnities.
  • The Component Pricing Option which uses the component milk price for butterfat, protein and other solids as the basis for determining coverage and indemnities. Producers have the ability under this option to select the butterfat test percentage and protein test percentage to establish the insured milk price.

It is important to note that the Dairy-RP insurance covers losses for the difference between the final revenue guarantee and actual milk revenue, times the actual share and protection factor established which are caused by natural occurrences in market prices and yields in the pooled production by region.  Please note it does not insure for losses against:

  • Death of dairy cattle;
  • Other loss or destruction of your dairy cattle; or
  • Any other loss or damage of any kind whatsoever.

To purchase a policy it can only be done through an authorized crop insurance agent with a completed application at any time.  However, insurance does not attach until you buy a quarterly coverage endorsement.  Multiple quarterly coverage endorsements are available to purchase with one application.  Coverage will start the day you buy the quarterly coverage endorsement.

For More Information…

USDA has developed a web-based fact sheet to help understand the basic parameters of the program along with a link providing a list of crop/commodity insurance agents available under the Agent Locator Page.  To access this information go to:

https://www.rma.usda.gov/en/Fact-Sheets/National-Fact-Sheets/Dairy-Revenue-Protection

 

Other Resources

The stress in farming has always existed, but levels can soar during times of high costs and low returns. University of Minnesota Extension recommends some programs that can help farmers and their family members, as well as those who work closely with them:

 

 

  • Extension offers free, confidential one-to-one counseling for farmers
  • experiencing financial stress. To set up a confidential appointment with an experienced Extension farm financial analyst, call the Farm Information Line at 1-800-232-9077.
  • Minnesota Farm Advocates has been supported by the Minnesota Department of Agriculture since 1984. There is no charge or fee for Farm Advocate assistance. Farm Advocates share their expertise and help farmers understand lender policies, bankruptcy laws, mediation, tax laws, USDA's Farm Service Agency's loan programs, Farm Credit Services and all other government programs affecting agriculture. Farm Advocates have a network of attorneys, accountants, human service professionals, educators and other sources of information and services.
  • Minnesota Farm and Rural Helpline, 833-600-2570, ext.1. Free, confidential, 24 hours and seven days a week. Calls are answered by trained staff and volunteers located here in Minnesota. Call if you or someone you know is struggling with stress, anxiety, depression or suicidal thoughts. Sometimes it’s easier to talk to somebody you don’t know.
  • Extension’s farm finance website has many tools for managing a farm business, including negotiating rent, farm transition planning, crop budget tools and machinery cost estimates.
  • Farmer-Lender Mediation (FLM) is an Extension program that provides trained, neutral mediators work to find solutions to financial issues between farmers and their lenders. The mediation is confidential. More details on FLM are available by calling 218-935-5785.

Other resources are available to Minnesota farmers through organizations like Farmers Legal Action Group, Minnesota State Colleges and Universities Farm Business Management, Crisis Connection and personal counseling.

Association Management Software Powered by YourMembership  ::  Legal