Whether you take out an LGM for Dairy policy, contract your milk and feed, consciously build up a rainy day fund, or do a combination of these, there are many ways to protect yourself when dairy margins fall. However, not doing anything at all is no longer an option.
The Center for Dairy Excellence and the Risk Management Agency can help you develop a risk management plan for your dairy. Alan Zepp, the center’s risk management program coordinator, can visit your farm or with small groups of farmers to help you think through how to better manage your on-farm risks. To contact Alan, call him at 717-346-0849 or email firstname.lastname@example.org.
For more information on dairy markets and risk management:
- Subscribe to the weekly “Markets and Management Report”
- Participate in the monthly “Protecting Your Profits” conference calls
“As young dairy producers, we utilized the LGM for Dairy program because we felt we were more at risk than established farmers. That decision became more and more of a blessing as the milk price continued to stay depressed.”