Dairy cows

Dairy farmers are being offered a new insurance program through American Farm Bureau Insurance Services to help bring an extra level of support to a sector that has been battered by losses over the past four years.

The Dairy Revenue Protection insurance policy covers potential revenue loss over five quarterly insurance periods. Producers opting for insurance protection are not precluded from participation in the USDA Farm Service Agency’s Margin Protection Program.

The insurance product was developed by American Farm Bureau Federation Chief Economist John Newton in partnership with the organization’s insurance services and economists from the University of Minnesota and Cornell University. It fills a demand not met by previous products and has the support t of USDA.

“Farmers have been suffering, and dairy farmers especially,” American Farm Bureau Federation President Zippy Duvall said. “The number of dairies that have had to close or sell to larger operations is shocking.”

Dairy farmers will have the option to select between class or component pricing options. The class pricing option uses an average of Class III and Class IV milk prices based on the insured’s declared class price weighting factor. The component pricing option uses butterfat, protein and other solids prices, as well as the declared butterfat and protein test to determine an insured component value of milk. Pricing options allow farmers to customize their price elections more accurately according to individual price risk.

“We recognize there is not a silver bullet to quickly bolster the dairy industry and that policy solutions are hard to come by whether working through the farm bill process or some other legislative vehicle,” said Jack Irvin, OFBF senior director of state and national affairs. “But Farm Bureau did not use that as an excuse and took a very proactive approach to finding solutions and are proud to offer another tool through this dairy revenue product.”

Coverage options start at 70 percent and are available up to 95 percent, in 5 percent increments. Sign up for the insurance coverage beginning Oct. 9. Visit dairyrp.com for details.

Ohio Farm Bureau membership

 

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
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