Meeting Recap: Pricing & Risk Management
ODPA hosted two milk pricing/risk management strategy workshops to help dairy farmers make a decision about enrolling in the Dairy Margin Protection Program.
Featured speakers included Dr. Cam Thraen, OSU; Chad Goodwill, Stewart-Peterson; Brad Sharp, Diversified Services, LGM Insurance; and Tom McCormick, Dairy Farmers of America.
The presentations helped dairy farmers discover how they may benefit from using financial risk management tools in their milk pricing strategies and provided an overview of the available financial risk management tools including CME Futures/Options, USDA/RMA Livestock Gross Margin Insurance, DFA Forward Pricing and USDA/FSA Margin Protection Program, the newest program.
Attendees also gained insight on how Ohio dairy farmer leadership is navigating through the challenges of manure nutrient management and water quality issues.
The workshops were open to ALL dairy farmers at no charge, and lunch was provided courtesy of our sponsors including the American Dairy Association Mideast, DHI Cooperative Inc, Dairy Farmers of America, COBA/Select Sires Inc, Diversified Services - LGM Insurance, Gerber Feed Service, New Pittsburg Veterinary Clinic and Stewart-Peterson.