HARRISBURG, Pa. — The Center for Dairy Excellence’s monthly “Protecting Your Profits” call will be held on May 29 at noon. The call will be led by Zach Myers, Risk Education Manager with the Center.
During the call, Myers will discuss how Class III and IV dairy futures are trading higher compared to this time last month. Class III milk futures are averaging $16.66/cwt for the rest of the year, over $0.50/cwt higher than this time last month. Class IV prices continue to trade higher than Class III and are averaging $17.27/cwt for the rest of the year, over $0.60 higher than last month. March dairy cow slaughter was up 7 percent over March 2018. March milk production was down 0.33 percent, and dairy cow numbers were down 0.62 percent from March 2018.
Final rules for the Dairy Margin Coverage program still have not been released. Enrollment for Dairy Margin Coverage will begin on June 17 and will close on Sept. 20. Coverage will be retroactive to Jan. 1. Dairy farmers who participated in the Margin Protection Program between 2014-2017 and qualify for an MPP premium refund should have received letters from FSA notifying them of their refund options. Refund sign-ups began on May 8 and will end on Sept. 20. Refunds are not automatic and dairy farmers must visit their local FSA office to apply for their refund. Dairy-RP policies for third quarter 2019 to third quarter 2020 are now available for purchase through an Authorized Insurance Provider through June 15.
Join the Center on May 29 to look at the dairy industry from a regional, national and global perspective. Find out how these new programs and the conventional price risk management tools can fit in to your marketing plan. All are welcome to participate at no cost in the upcoming “Protecting Your Profits” conference call. To register and obtain the conference line information, please call 717-346-0849 or email Myers at firstname.lastname@example.org.
The call will start promptly at noon and last approximately 15 minutes. Calls are recorded and posted on the Center for Dairy Excellence website for those who are unable to join the live session.
— Center for Dairy Excellence