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<blockquote data-quote="Son of Butch" data-source="post: 1507282" data-attributes="member: 14585"><p>New subsidized milk program "milk price insurance" kind of like crop insurance, but you're buying insurance on prices.</p><p>Varying amounts of coverage offered depending on how much insurance a dairy farmer wants to buy, highest coverage</p><p>Costs farmers 15 cents per hundred weight produced and insures a price of $8 hundred weight over feed costs. </p><p>i.e. Farmer shipping 10,000 lbs of milk per day the insurance costs $5,475 year. </p><p>Must be enrolled in the program by June 1st to purchase the insurance. </p><p>Considered a no brainer for farmers milking less than 250 cows.</p><p>The larger dairies can often insure their price margins cheaper using future markets puts and calls.</p></blockquote><p></p>
[QUOTE="Son of Butch, post: 1507282, member: 14585"] New subsidized milk program "milk price insurance" kind of like crop insurance, but you're buying insurance on prices. Varying amounts of coverage offered depending on how much insurance a dairy farmer wants to buy, highest coverage Costs farmers 15 cents per hundred weight produced and insures a price of $8 hundred weight over feed costs. i.e. Farmer shipping 10,000 lbs of milk per day the insurance costs $5,475 year. Must be enrolled in the program by June 1st to purchase the insurance. Considered a no brainer for farmers milking less than 250 cows. The larger dairies can often insure their price margins cheaper using future markets puts and calls. [/QUOTE]
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