Dairy Risk Management Strategies Workshop Wednesday
The University of Minnesota Extension service will be hosting a Dairy Risk Management Strategies workshop Wednesday afternoon in the 4-H building on the Rice County Fairgrounds in Faribault. This was scheduled for Wednesday April 10, 2019 but was canceled because of the snowstorm. Extension Educator in Rice and Steele County Claire LaCanne said there was a lot of interest in the program so it was rescheduled for this Wednesday. The Rice County DHIA will hold their Annual Meeting at noon and then the workshop will begin at 2:00 pm.
The old Farm Bill had a Margin Protection Program that did not work very well for dairy farmers. The new Farm Bill has a Dairy Margin Coverage program that I am told is a much better program. Nathan Hulinsky, University of Minnesota Extension Educator, Ag Business Management will lead the discussion using spread sheets and other tools to compare the old dairy program to the new one. Prices for the different coverage levels and the pounds of coverage will be examined.
In addition the USDA's Risk Management Agency has a Dairy Revenue Protection program that is similar to the crop insurance product. Jared Franke, Insurance Officer at Compeer Financial will discuss this new product. If a dairy farmer would like they can enroll in both dairy programs. There is no charge for the workshop and you do not have to pre-register.