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USDA, Farm Bureau prepared for heavy Dairy-RP demand

American Farm Bureau Federation Chief Economist John Newton with Brownfield at World Dairy Expo

The main architect of the new Dairy Revenue Protection insurance tool says farmers and agents are excited to have the new risk management tool.  American Farm Bureau Chief Economist John Newton tells Brownfield, “A lot of folks from agents to dairy farmers, even some of the brokerage companies who have gone out and got some of their folks licensed so they can actually sell Dairy-RP, there’s just been a ton of excitement.”

Newton says he is expecting high online demand as Dairy-RP signups start Tuesday.  “The I-T folks, both at the USDA Risk Management Agency as well as at American Farm Bureau Insurance Services are certainly ready for any type of capacity that may come in Tuesday afternoon when sales first begin.”

Newton says the new Dairy-RP is an insurance tool that can be used in tandem with the Dairy Margin Protection Program on the same milk, but it cannot be used with the LGM-Dairy program.  He says producers should discuss their production volumes and goals with a qualified agent, and that most crop insurance agents are handling the new risk management tool.

 

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