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Western United Dairymen to Host Margin Protection Program Workshops in August

12:44PM Jul 16, 2014

The meetings will explain the nuts and bolts of the new farm bill program for dairy producers.

Source: Western United Dairymen

Western United Dairymen (WUD) will host a series of informational workshops in August on the new Margin Protection Program, which is part of the 2014 Farm Bill signed into law earlier this year.

There will be 11 workshops held throughout August at dates and locations which will be announced soon. The first workshop is set for Aug. 11 in Orland. The workshops will be open to anybody interested: WUD members, nonmembers, their bankers and CPAs as well as allied industry members.

WUD President Tm Barcellos said, "This is a tool that will be available to all U.S. dairy producers. WUD wants to ensure California dairymen are comfortable enough in understanding the program details and how it can affect their operation to make the participation decision that is best for them."

Participation in the Margin Protection Program is voluntary. For those who choose to enroll, it should help prevent the type of catastrophic losses of equity that distressed so many dairy producers in 2009. The risk management program will help address margin volatility by targeting combinations of low milk prices and high feed costs. But as with any risk management tool, understanding the nuts and bolts is crucial to the program’s efficacy.

The workshops will cover how the program works; how the program would have performed in previous years; what this means for California dairy producers; pros and cons of the program; available resources to producers and a question-and-answer period.

WUD is a voluntary membership organization representing more than 60% of the milk produced in California. Membership benefits include resources in labor law, environmental regulations and pricing issues. Members decide the direction of state and federal legislative efforts affecting the dairy industry.