Wondering about the new Margin Protection Plan (MPP) and the Livestock Gross Margin Plan (LGM), along with the decisions you need to make for your farm? AgStar Financial Services hosted a webinar on Tuesday, September 23 that featured University of Minnesota dairy economist Dr. Marin Bozic.
Some questions and explanations that were covered :
* What are the benefits to a dairy farm to enroll in the program?
* If a farmer decides to enroll, how might he or she think about the level at which to participate, either for the remainder of 2014, for 2015 or as a general approach for future years?
* What important factors need to be considered?
* How important is it to think about the farm's personal milk and feed prices compared to the prices used for the national MPP margin?
* How important is it to think about my personal business risk factors, risk profile and risk preferences?