2019 DMC Payments Total Nearly $303 Million
The National Milk Producers Federation (NMPF) reports that the Dairy Margin Coverage (DMC) program will pay out just under $303 million in 2019 to 22,631 dairy farmers. That’s an average payment of $13,385 per enrolled farm.
NMPF also notes the old Margin Protection Program would have paid out just $75,000 total, or about $3 per farm. The DMC program increased margin coverage to $9.50/cwt (up from $8) and also included dairy quality alfalfa prices rather than average alfalfa prices. Combined, that results in the increased payments to $302,906,825.
For a state-by-state payout, click here. Wisconsin dairy farmers who enrolled in the program will get nearly $68 million, California, Minnesota and New York farmers in each state will get more than $25 million and Pennsylvania farmers will get more than $22 million.
Sign-up for the 2020 program begins next Monday, Oct. 7. “We encourage farmers who haven’t already signed up for all five years of Dairy Margin Coverage to re-new their sign up for 2020, and for farmers who decided not to participate in the 2019 program to consider it in the future,” says Jim Mulhern, NMPF president and CEO.