Risk management programs like Dairy Revenue Protection help dairy producers manage price volatility and maintain financial stability.
As 2024 draws to a close, Class III milk prices have strengthened, driven by bullish cheese fundamentals and increased export demand for whey products. At the same time, Class IV prices have held firm, supported by lower butter inventories and strong demand.
Producers now have a valuable opportunity to secure higher revenue floors in an increasingly volatile market by enrolling in the Dairy Revenue Protection (Dairy-RP) program. This program is a great addition to a sound risk management strategy, allowing producers to give added focus on managing volatility beyond the commodity sector and unpredictable geopolitical, macroeconomic and other unforeseen risks.
Tim Patchin and Adam Cardwell
November 15, 2024
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