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Dairy Revenue Protection (DRP) is designed to insure the producer against unexpected declines in the quarterly revenue from milk sales relative to a guaranteed coverage level. Expected revenue is based on futures prices for milk and dairy commodities and the amount of covered milk production elected by the producer.
Dairy producers make several selections that are specific to their individual operations including milk pricing option, coverage level, quarter to insure, protection factor, and milk production to cover.
The actual ending milk or component values are based upon the monthly average prices announced by the USDA's Agricultural Marketing Service. The milk yields are based upon the USDA's National Agricultural Statistics Service Milk Production report.
DRP coverage does not insure against death of dairy cattle, loss or destruction of dairy cattle, or any other loss or damage of any kind.
The Risk Management Agency (RMA) is an excellent source for information regarding Crop-Hail Insurance. Check out their website by clicking the button below.