Now is the time to sign up for dairy margin coverage

Have you enrolled in Dairy Margin Coverage for 2023? If not, you still have time to sign up. The USDA Farm Service Agency has extended the deadline to Jan. 31 for dairy farmers. 

• READ MORE: In 2023, farmers will see a weak global dairy market, say analysts

The current price projection for 2023 is averaging $1.25 per hundredweight, and the cost for the $9.50 coverage is about $0.15 per hundredweight, says David Balbian, a dairy Extension specialist with Cornell University Cooperative Extension. 

Balbian also believes 80% of the yearly premium projected is to be covered by January’s projected payment.

• READ MORE: Demand for American dairy is strong across the globe 

But, price projections can also change, which is why locking at the right time can benefit you and your operation all year. You can put your farm's numbers into the Dairy Markets & Policy calculator to help you decide which coverage level option is best suited to your dairy's needs. 

You can also connect with your local Farm Service Agency for specific details related to your farm's situation.