Ohio Farm Bureau

The American Farm Bureau Federation, in cooperation with American Farm Bureau Insurance Services, has developed a new risk management insurance product for dairy farmers. Approved by the Agriculture Department’s Federal Crop Insurance Corporation, “Dairy Revenue Protection” insurance will provide dairy farmers the opportunity to manage risk by focusing on revenue from milk sales.

“We know that the level of risk protection available to dairy farmers was inadequate and we saw a clear opportunity to help by specifically addressing the impact of milk price volatility on a dairy farmer’s revenue,” said AFBF President Zippy Duvall. “This coverage will help shield dairy farmers from unexpected declines in milk prices as well as unexpected declines in milk production by addressing overall revenue. We are excited about teaming up with American Farm Bureau Insurance Services to offer this new risk management tool to dairy farmers.”

“As a dairy farmer I know firsthand the challenges our industry is facing,” said Frank Burkett III, president of Ohio Farm Bureau. “To be part of an organization that thinks outside the box and takes action to create constructive steps to help farmers who are struggling is one of the many reasons I’m proud to be a Farm Bureau member.”

As designed, Dairy Revenue Protection will provide several levels of insurance coverage based on the value of the farmer’s milk. One option will use manufacturing milk futures prices, and the other option would be based on the value of milk components, such as milkfat, protein and other milk solids. A majority of dairy farmers selling milk in the U.S. are paid based on the amount of milkfat and protein in their milk.

Other than those dairy pricing options, Dairy Revenue Protection coverage otherwise functions similarly to area-based crop revenue protection insurance policies. The coverage would offer revenue guarantees based on futures prices, expected production and market-implied risk. The premiums for coverage will be subsidized.

It is expected that Dairy Revenue Protection policies will be available in late summer 2018.

This is an edited version of a release from American Farm Bureau.

This is a news release for use by journalists. Questions should be directed to Joe Cornely, 614-246-8230.

The issue of property taxation remains as one of the biggest challenges our members face today. Ensuring agricultural property is valued for its agricultural potential and not development is critical to the continued success of Ohio agriculture.
Matt Aultman's avatar
Matt Aultman

Darke County Farm Bureau

Giving farmers a voice
The plan we are on is great. It’s comparable to my previous job's plan, and we are a sole proprietor.
Kevin Holy's avatar
Kevin Holy

Geauga County Farm Bureau

Ohio Farm Bureau Health Benefits Plan
I could not have done it without the resources I have found through Farm Bureau.
Gretchan Francis's avatar
Gretchan Francis

Trumbull County Farm Bureau

Bringing the farm back to life
We really appreciate what Farm Bureau has done to get people interested in this line of work and workforce development and getting people interested in this industry.
Jody Brown Boyd's avatar
Jody Brown Boyd

Brown's Family Farm Market

Finding farm labor
We work terrifically with the Ashtabula County Farm Bureau, hosting at least one to two outreach town hall events every year to educate new farmers and existing farmers on traditional CAUV and woodlands.
David Thomas's avatar
David Thomas

Ashtabula County Auditor

CAUV: Past, present and future
Because we are younger farmers just starting out, Farm Bureau has a lot of good opportunities and resources to help us grow in the future.
Hannah Kiser's avatar
Hannah Kiser

Sandusky County Farm Bureau

Farm Bureau involvement
Through the Select Partner program, we became educated in farm insurance and weren't just selling policies. It became more and more clear why farmers need an advocate like Ohio Farm Bureau.
Chad Ruhl's avatar
Chad Ruhl

Farm manager, CSI Insurance

Select Partner Program
So many of the issues that OFBF and its members are advocating for are important to all Ohioans. I look at OFBF as an agricultural watchdog advocating for farmers and rural communities across Ohio.
Mary Smallsreed's avatar
Mary Smallsreed

Trumbull County Farm Bureau

Advocacy
Suggested Tags: