I have heard a LOT of complaining about the state of the dairy industry in the last month. Rightfully so….the milk price stinks! HOWEVER…..are we going to complain about it and keep doing the same thing? I think we all know the definition of INSANITY……..keep doing the same thing over and over, but expecting different results. We need to look at history and learn from it. In the 3rd Quarter of 2019 we ALL had the opportunity to purchase Dairy Revenue Protection for 2020 at a very reasonable cost.
2020 DRP Trigger Price Cost
July, 2019 $16.22 $0.18
August, 2019 $16.01 $0.16
September, 2019 $16.13 $0.15
For this month I’m going to keep my ruminations very short:
1. Spend the money on DRP! It’s worth it. Every year. Buy it in August or September.
2. Protect your feed inputs. Do this in August or September.
To learn more about the DRP Dairy Revenue Protection program go to: https://www.rma.usda.gov/en/Fact-Sheets/National-Fact-Sheets/Dairy-Revenue-Protection or https://www.fb.org/market-intel/what-is-dairy-revenue-protection.
Insights from Dr. Kevin Hoogendoorn, DVM, Creator and Owner of the ZISK dairy app.
Article from 4/20/2020
