Bill 119 hr 294, also known as the Dairy Margin Coverage Program Improvement Act of 2021, aims to make changes to the Agricultural Act of 2014 specifically related to the dairy margin coverage program. This program provides financial assistance to dairy farmers when the gap between milk prices and feed costs reaches a certain level, known as the margin. The main purpose of this bill is to improve the effectiveness of the dairy margin coverage program by making it more accessible and beneficial to dairy farmers. Some of the key provisions of the bill include increasing the coverage levels for dairy farmers, adjusting the feed cost formula to better reflect actual costs, and allowing farmers to update their production history to better reflect current conditions. Additionally, the bill includes provisions to make the program more equitable for smaller dairy operations and to provide additional support for beginning and socially disadvantaged farmers. It also aims to improve the overall stability of the dairy industry by helping farmers manage risk and navigate market fluctuations. Overall, the Dairy Margin Coverage Program Improvement Act of 2021 seeks to strengthen the dairy industry by providing better support and protection for dairy farmers, particularly in times of economic uncertainty.
Bill 119 hr 294, also known as the Dairy Margin Coverage Program Improvement Act of 2021, aims to make changes to the Agricultural Act of 2014 specifically related to the dairy margin coverage program. This program provides f...