Schumer said that overall the dairy margin insurance program creates a stronger safety net for small farmers than the industry’s milk price program.
The National Milk Producers Federation, representing 32,000 dairy producers, worked with the House and Senate to develop a margin insurance program.
“The program that we have worked to develop establishes a reasonable and responsible national risk management tool that will give farmers the opportunity to insure against catastrophic economic conditions, when milk prices drop, feed prices soar, or the combination,” Jim Mulhern, NMPF president and chief executive officer, said in a statement this week.
“By limiting how much future milk production growth can be insured, the measure creates a disincentive to produce excess milk,” Mulhern said. “The mechanism used is not what we would have preferred, but it will be better than just a stand-alone margin insurance program.”Back in the top three Gov. Andrew Cuomo announced Wednesday that New York surpassed Idaho to reclaim the No. 3 spot nationwide among milk-producing states. Here are the top four states ranked by monthly milk production through December 2013, according to the United States Department of Agriculture: 3.47 billion pounds -- California 2.3 billion pounds -- Wisconsin 1.13 billion pounds -- New York 1.1 billion pounds -- Idaho