Articles Tagged with ''Dairy Margin Coverage''

A fiscal 2022 funding bill for USDA and the Food and Drug Administration is headed to the full Senate Appropriations Committee. The bill, which was approved Monday evening by the committee’s Agriculture subcommittee, includes about $7 billion in supplemental assistance for farmers who have been affected by drought and other natural disasters.

Congressional leaders reach agreement with the White House on a $900 billion COVID-19 relief package that will include a new round of aid to various agriculture sectors while also ensuring the deductibility of expenses used to get forgiveness of Paycheck Protection Program loans.

Like most dairy producers in late 2019, Ryan Klussendorf of Medford, Wis., was optimistic about 2020 dairy prices and he did not sign up for USDA’s Dairy Margin Coverage program. But after seeing the extreme volatility of this year, he’s not taking any chances for 2021 and said other producers shouldn’t either.

The window is closing fast for Congress to agree on funding the government as well as providing more coronavirus assistance to schools and sectors of the economy still reeling from the pandemic.

President-elect Joe Biden continues to roll out his Cabinet picks, though there’s no word yet on key picks for agriculture, environment and trade. Today, he’ll introduce the members of his economic team, including Janet Yellen, who he intends to nominate for treasury secretary, and Neera Tanden, his pick to run the Office of Management and Budget, which has broad authority over the spending and regulatory matters.

The National Milk Producers Federation and International Dairy Foods Association are jointly asking USDA to rescue the industry from the impacts of the COVID-19 pandemic by paying farms to cut production and providing forgivable loans to processors to keep buying milk.

This is the second episode of a five-part podcast series exploring a wide range of issues in the dairy industry. In this episode, farm broadcasters Spencer Chase and Ben Nuelle report on the various changes in dairy policy in recent memory.

Producers will have an extra week to sign up for Dairy Margin Coverage and the Market Facilitation Program.

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