More and more dairy farmers are utilizing risk management programs for their business. That is according to the American Farm Bureau Federation.
Roughly 70 percent of annual milk production is insured under the Dairy Margin Coverage Program. The American Farm Bureau says the number of policies sold has been going up since 2019. There were more than 1,600 LGM dairy policies written last year, and 1,300 so far this year.
Farmers can use multiple programs at the same time as long as the same milk is not being insured by two programs.
Related:
Dairy Margin Coverage Program Enrollment Extended for Five Weeks
73.4% of dairy operations are signed up for Dairy Margin Coverage
Love for the Land: What does sustainability on a dairy operation look like?
