Agriculture Secretary Tom Vilsack Thursday announced that dairy producers enrolled in the 2016 Margin Protection Program for Dairy will get approximately $11.2 million in financial assistance. Vilsack said Thursday “we understand the nation's dairy producers are experiencing challenges due to market conditions.” The payment rate for May/June 2016 will be the largest since the program began in 2014. The national average margin for the May/June 2016 two-month consecutive period is $5.76 per hundredweight, resulting in the MPP payments. Dairy producers who enrolled at the $6 through $8 margin trigger coverage level will receive payments. MPP-Dairy payments are triggered when the national average margin—or the difference between the price of milk and the cost of feed—falls below a level of coverage selected by the dairy producer, ranging from $4 to $8, for a specified consecutive two-month period. Vilsack also urged dairy producers to evaluate their enrollment options for 2017, as the enrollment period is currently scheduled to end September 30th, 2016.
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