Insurance news for dairy farmers will lead to higher monthly expenses

Insurance news concerning dairy farmers

The expired 2008 Farm Bill could mean payments of up to 10 percent of their monthly milk income. Beginning this month, dairy farmers made insurance news as they could lose up to 10 percent of their monthly income from milk because Congress allowed the 2008 Farm Bill to expire. The element affecting the farmers is the Milk Income Loss Contract program. This program functioned as a safety net for farmers when the national price of milk fell, offering them payments during those times. However, it expired along with the Farm…

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Crop insurance news shows debate rages on over subsidy

Crop Insurance

Farmers want to continue to cover themselves against falling prices and losses with the help of the government. Corn and soybean farmers, especially, have been enjoying this type of arrangement for their crops for many years, and the latest insurance news is showing that this might improve. Congress currently has a farm bill before it, which includes a provision that will likely come with an annual cost of approximately $3 billion, that would help farmers to cover the losses they incur ahead of the coverage of their own policy coverage.…

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