ARLINGTON, VIRGINIA – The new margin protection insurance program for dairy farmers, which was developed by the National Milk Producers Federation and enacted in the 2014 Farm Bill, was formally unveiled today by Agriculture Secretary Tom Vilsack. NMPF said it is pleased with the overall provisions of the new program, and urged farmers to begin familiarizing themselves with what will be a “valuable tool” to help manage farms’ financial risks in the future.
“Today’s release of the new dairy program’s details is the culmination of five years of work by NMPF, the nation’s dairy cooperatives and other farm groups to create an important new safety net for dairy farmers,” said Jim Mulhern, President and CEO of NMPF. “We applaud the U.S. Department of Agriculture on its hard work during the past six months putting the final touches on the dairy provisions of Congress’s Farm Bill. While some of the issues we raised could not be fully resolved in the short time available to complete the rulemaking, we’re pleased with the final package.”