Changing Structure, Financial Risks, and Government Policy for the U.S. Dairy Industry

Economic Research Report No. (ERR-205) 75 pp, March 2016

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by James M. MacDonald, Jerry Cessna, and Roberto Mosheim

Congress created the Dairy Margin Protection Program (MPP-Dairy) in 2014 to provide farmers with financial protection against risks from increasing volatility in milk and feed prices. This report focuses on the interrelated topics of structural change in dairy production, changes in dairy product markets, growing price volatility, and dairy policy.

Keywords: Farm structure, Margin Protection Program, dairy policy, dairy trade, ARMS, dairy farm finances, milk prices, dairy exports, dairy structure

In this publication...