The Center for Dairy Excellence’s monthly Protecting Your Profits call will be held November 18 at noon, just before Friday’s deadline to enroll in the USDA FSA’s Dairy Margin Protection Program. Alan Zepp, risk management program manager with the center, will lead this call and will be joined once again by Cynthia Walter of the Farm Service Agency.
In addition to being the final day to enroll in the Dairy MPP Program, November 20 is also the November LGM-Dairy sales date. According to Zepp, futures market prices are building expected margins for 2016 that are very similar to the 2015 expected margins constructed by futures markets last October and November.
Those who enrolled in the Margin Protection Program last fall must decide whether to rely solely on MPP or use other tools to enhance coverage. “Farms that chose to use LGM-Dairy for one year last fall can continue with LGM-Dairy in 2016 to potentially take advantage of the higher safety net potential,” he said. “Today’s futures market prices allow LGM-Dairy to provide coverage similar to MPP’s $6.00 to $8.00 per hundredweight levels for less cost than MPP in many cases.”
These calls are offered at no cost by the Center for Dairy Excellence. However, to register and obtain the conference line information, call 717-346-0849, or email firstname.lastname@example.org. The calls will start promptly at noon and usually last 15-20 minutes.