USDA approves sale of dairy revenue insurance policy

USDA’s Risk Management Agency has approved the first revenue protection insurance policy for dairy producers, allowing them to buy coverage for the first quarter of 2019.

The Dairy Revenue Protection policy, developed by the American Farm Bureau Federation and American Farm Bureau Insurance Services, will provide indemnities when milk prices fall and actual revenue is below a revenue guarantee.

Premiums will be subsidized similarly to the way they are for existing crop insurance products for corn and other commodities.

Source: AgriPulse