Missouri Dairy Business Update
Understanding Dairy Margin Insurance
- Coming Fall '13
Five free regional workshops are planned this fall to help Missouri dairy producers understand and learn to use the new dairy margin insurance tools available. The workshops will cover:
- The new farm bill margin insurance and supply management program
- Livestock Gross Margin (LGM-Dairy) insurance
- Hedging using futures and options through brokers
- Risk management tools now available through DFA Risk Management
The five planned workshops will be held between 9:30 and 3:30 p.m. to accommodate producers who have to milk and then travel an hour to the workshop.
Dates and locations for the workshops will be announced as soon as the farm bill is finally signed and the USDA Farm Service Agency implementation rules are developed.
In the event no farm bill is agreed upon again this year, the workshops will still be held, but focus on tools available to control margin risk in the continuing absence of a new farm bill.
Teaching the workshops will be Joe Horner and Scott Brown from the University of Missouri, Earl Biggers from DFA Risk Management, and collaborating dairy producers experienced in using price and margin insurance tools.
Supported by a grant from the North Central Risk Management Education Center