“Dairy Risk Management Strategies” workshop

University of Minnesota Extension

Short workshop comparing the new Farm Bill’s DMC and DRP to be held April 10

 

 

“Dairy Risk Management Strategies” is a short workshop comparing the new Farm Bill’s Dairy Margin Coverage (DMC) and Dairy Revenue Protection (DRP) coming to Faribault on Wednesday, April 10 at 2:00 p.m. at the Rice County 4-H Building.

This two-hour workshop will use several tools, including spreadsheets and information from our speakers, to analyze how the new Dairy Margin Coverage compares to the old Margin Protection Program. Prices for the different coverage levels and the pounds of coverage will be examined. In addition, information on Dairy Revenue Protection program offered through Risk Management Agency (RMA) will be presented, which works similarly to a crop insurance product that provides quarterly coverage. We will help determine which dairy programs are best for your dairy.

Pros and cons of each program will be highlighted. Knowing your cost of production is important, and several tools to help calculate your cost of production will be shown. These topics will be covered by speakers Nathan Hulinsky, Extension Educator, Ag Business Management, U of MN Extension and Jared Franke, Insurance Officer, Compeer Financial.

Nathan Hulinsky, Extension Educator explains, “with the current state of milk prices and the farm economy, maintaining profits is tricky. There are tools out there to help dairy farmers set a floor for their milk price, we want to highlight them.”

Locations:
Wednesday, April 10, 2019
9:30 a.m. to 11:30 a.m.
Ag Partners Regional Office
901 N 4th Street,
Le Sueur, MN 56058

Wednesday, April 10, 2019
2:00 p.m. to 4:00 p.m.
Rice County 4-H Building
1900 Fairgrounds Drive #17
Faribault, MN 55021

For questions please contact Claire LaCanne, Extension Educator Rice/Steele 507-444-7691.
For more news from U of M Extension, visit www.extension.umn.edu/news or contact Extension Communications at [email protected] University of Minnesota Extension is an equal opportunity educator and employer.

 

 

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