House Agriculture Committee Ranking Member Collin Peterson this week introduced the Dairy Risk Management Act. Peterson says the legislation would provide dairy farmers with a strong safety net to address volatile market conditions outside of their control. The act would replace the Margin Protection Program with the Dairy Risk Management Program.
Peterson says dairy farmers from his congressional district and across the country are “facing tough times that show no signs of letting up.” USDA’s Economic Research Service forecasts dairy farms to experience a 19.2 percent decrease in net cash farm income from 2017 to 2018, the largest decrease expected for any livestock specialization. Peterson says his bill, creating the new proposed risk management program, address the “shortcomings of MPP” and what he says “should have been included in the Bipartisan Budget Act,” which made changes to MPP.
Dairy industry groups have vowed to continue to seek more support for dairy farmers through Congress and the next farm bill.
From the National Association of Farm Broadcasting News Service.