Understanding Federal Milk Marketing Orders and Current Dairy Risk Management Tools
Topic:
The United States Department of Agriculture’s (USDA) Agricultural Marketing Service (AMS) administers eleven Federal Milk Market Orders (FMMOs) which are authorized by statutes dating back to 1933 and which directly prescribe payment for approximately 75% of the total U.S. milk supply. Yet nothing in agricultural law is perceived as more impenetrable to comprehension.
This webinar will unpack the arcane terminology and process surrounding the administration of current FMMOs. It will explain in simple terms how the value of all milk ‘pooled’ in a FMMO’s designated marketing area, regardless of the products into which it is made (‘utilization’), is shared by its producers via the establishment of a uniform blended price. In addition, the common criticisms of present FMMO administration will be highlighted and explored.
Lastly, while FMMOs address price disparity based upon utilization of milk, the availability of risk management tools for dairy against market volatility have only been available in recent years and have changed rapidly almost yearly. This webinar will also outline the three current dairy risk management products: Dairy Margin Coverage (DMC), Livestock Gross Margin for Dairy (LGM-Dairy) and Dairy Revenue Protection (Dairy-RP).
Time and Date:
Wednesday, June 16, 2021
12:00 – 1:00 (EST)
11:00 – 12:00 (CST)
Participation:
This webinar was recorded on June 17, 2021. Click here to view a recording of the webinar.
Presenters:
Brook Duer, Staff Attorney, Penn State Center for Agricultural and Shale Law
Brook joined Penn State Law’s Center for Agricultural and Shale Law in 2019 after serving as Chief Counsel to the Pennsylvania Department of Agriculture (PDA) for over seven years, and was with PDA as an attorney for a total of over 11 years. Prior to that, Brook practiced law in Lancaster County for seventeen years in various firms/partnerships going back to 1989, mostly in civil litigation and representing farmers and all manner of ag-related clients including plain sect clients. Brook graduated from Indiana University of Pennsylvania in 1985 and received his law degree from the University of Pittsburgh in 1989.
Research & Materials: