New Insurance for Dairy Farmers

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Created on Friday, 26 September 2014 20:25
Written by Brooke Devine
CowwwwwwwLYNDON - As Vermont dairy farmers costs continue to rise, new financial programs are being offered by the US department of agriculture. The program helps farmers who do not produce a substantial amount of milk campared to the cost of feeding their cows. 

Farmers in Vermont can choose to enroll in the federal protection program and be insured if milk prices drop while feed prices rise. 
It costs farmers $100 to register and coverage depends on the farms revenue and how much milk is produced.  Currently Vermont farmers are able to sell higher priced milk while keep the cost of their cows food low, but that could change abruptly in this economy. 
 
Vermont Senator, Patrick Leahy, encourages farmers to get insured and guarantees the system will not be abused.
 
"We've built in protections to make sure the mega-producers can't game the system; you can't buy protection for above what you've done in the last view years," says Leahy.
 
Programs would then have lower rates for smaller farms and higher rates for big farms, but everybody will be protected. 
 
Enrollment has already started and will continue until November 28th, for 2014-15. The farm bill expires in 2018.