Dairy Margin Protection Program vs. Dairy-LGM insurance
Dairy producers have a choice when signing up for the dairy provisions of the 2014 farm bill: dairy margin protection insurance or livestock gross margin—dairy (LGM-Dairy) insurance. Note: Farmers can select one or the other, but not both.
To hear a comparison of the program, click here. Speaking is Marin Bozic, a University of Minnesota dairy economist.
Also note that if a farm currently has an active LGM-dairy policy in place, the farm can continue that policy through its duration. It can also sign up for MPP, but the MPP provisions won’t activate until after the LGM-dairy insurance contract expires. Sign-up deadline for MPP for 2014 and 2015 is November 28.