Oct 1, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

Retroactive MILC Payments?

January 11, 2013

The extension of the 2008 Farm Law also extends the Milk Income Loss Contract (MILC) program, and reportedly makes it retroactive to October 1, 2012. USDA has yet to release sign-up details.

According to estimates released by the National Milk Producers Federation (NMPF), there could be a 2¢/cwt MILC payment in October 2012, and there could possibly be a February 2013 payment of 17¢/cwt based on current futures prices. April and June could also generate small payments of a few cents.

With the Farm Law extension, MILC will cover 2.985 million lb. of annual production at a payment rate of 45% and a feed adjustor factor of $7.35. For September 2013, the coverage drops to 2.4 million lb. of annual milk production, 34% payment rate and a $9.50 feed adjustor.

NMPF notes that producers should not contact their local USDA Farm Service Agency offices until USDA makes an official announcement regarding implementation of the program.

See Comments



Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions