U.S. Department of Agriculture: Critical dairy insurance policy now available
WASHINGTON - Daily sales resumed on Jan. 29 for the Dairy Revenue Protection policy offered through the federal crop insurance program managed by the USDA’s Risk Management Agency. Sales had been suspended during the lapse in federal funding between Dec. 22, 2018, and Jan. 25, 2019. Livestock Risk Protection sales also resumed.
Dairy Revenue Protection (Dairy-RP) is designed to insure against unexpected declines in the quarterly revenue from milk sales relative to a guaranteed coverage level. The expected revenue is based on futures prices for milk and dairy commodities and the amount of covered milk production elected by the dairy producer. The covered milk production is indexed to the state or region where the dairy producer is located. More information is available on the RMA Website.
The Livestock Risk Protection Insurance plans are designed to insure against declining market prices. Agricultural producers may choose from a variety of coverage levels and insurance periods.
Crop insurance is sold and delivered solely through private crop insurance agents. Learn more about crop insurance and the modern farm safety net at https://www.rma.usda.gov/.