Dairy Risk Management  01/18/18 2:11:52 PM

Missouri Agricultural and Small Business Development Authority to accept applications and award $660,000 for dairy risk management.

The State of Missouri’s FY18 budget signed by Gov. Eric Greitens made available $660,000 to fund a dairy risk management program created by the Missouri Dairy Revitalization Act. The Missouri Agricultural and Small Business Development Authority (MASBDA), housed within the Missouri Department of Agriculture, will begin accepting applications for the program in early 2018.

“I applaud Gov. Greitens for making this a priority and supporting the Missouri dairy industry, which employs 23,000 Missourians and generates an estimated $7.5 billion in economic output annually,” said Director of Agriculture Chris Chinn. “The dairy industry worked for this for several years, and MASBDA is ready to go to work for them."

The Margin Insurance Premium Assistance program was established to assist Missouri dairy farmers with the cost of their participation in the federal margin protection program by the Missouri General Assembly. Eligible dairy farmers may be reimbursed up to 70 percent of their federal premium, excluding the USDA Farm Service Agency administrative fees. Dairy farmers applying for reimbursement will be required to submit full proof of federal premium payment for each year that reimbursement is requested.

Applications will open on Jan. 8, 2018, and close on Feb. 28, 2018. Full program information and application forms are available through the Department’s web site, milk marketing cooperatives, producer organizations and county FSA offices.

The State of Missouri’s FY19 proposed budget will reflect the end of funding for this program. With federal farm bill discussions underway, it is important to focus attention on a federal program that will work better for Missouri dairy farmers. The Department will support agriculture and commodity groups in their efforts to accomplish that goal.

"We are pleased with the State of Missouri's support for maintaining a local milk supply including Governor Greitens' fulfillment of a long term promise to Missouri's dairy farmers,” said Ted Sheppard, Missouri Dairy Association president and a dairy farmer from Cabool.

“Missouri Dairy Industry Alliance greatly appreciates Governor Greitens and Director Chinn for their commitment to Missouri dairy farmers,” said Missouri Dairy Industry Alliance president Sean Cornelius.  “We look forward to working with the Department of Agriculture and other organizations that support dairy to build a better path forward in the next farm bill.”

"We are grateful to Governor Greitens and his team for not only recognizing the importance of the state's dairy industry but also providing funds that will help Missouri farmers dealing with low milk prices,” said Blake Hurst, Missouri Farm Bureau president. “Our focus will now turn to ensuring access to viable risk management tools at the federal level."

“We appreciate the Governor’s support of Missouri dairy farm families and look forward to working with him as well as Director Chinn of the Missouri Department of Agriculture to help identify other ways to further grow the dairy industry in the state,” said Randy Mooney, Chairman of DFA’s Board of Directors and dairy farmer from Rogersville, Mo. 

For more information on the Missouri Dairy Revitalization Act and this program, please contact the Missouri Agricultural and Small Business Development Authority by phone at 573-751-2129 or email at masbda@mda.mo.gov.  Information is also available on the Department’s web site

 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN