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 Dairy Margin Coverage Program
 Home
Programs and Services
Dairy Margin Coverage Program
 The enrollment period for the 2024 Dairy Margin Program year begins Feb. 28, 2024, and ends April 29, 2024. For those who sign up for 2024 DMC coverage, payments may begin as soon as March 4, 2024, for any payments that triggered in January 2024. DMC continues to offer protection to dairy producers when the difference between the all-milk price and the average feed price (the margin) falls below a certain dollar amount selected by the producer. FSA has revised the regulations for DMC to allow eligible dairy operations to make a one-time adjustment to established production history. This adjustment will be accomplished by combining previously established supplemental production history with DMC production history for those dairy operations that participated in Supplemental Dairy Margin Coverage during a prior coverage year. DMC has also been authorized through calendar year 2024. Congress passed a 2018 Farm Bill extension requiring these regulatory changes to the program. Read more. **Decision Tool** The DMC decision tool has been enhanced and was developed in partnership with representatives from the University of Minnesota and University of Wisconsin to help producers determine the level of coverage under a variety of conditions that will provide them with the strongest financial safety net. **Enrollment Reports** Updated DMC enrollment reports will be posted to this webpage at 2 PM eastern on the first Monday of each month.  The first enrollment report for the 2023 program year is available on this webpage. *The 2018 Farm Bill authorized the new Dairy Margin Coverage (DMC) program, which is a voluntary risk management program for dairy producers. DMC replaces the Margin Protection Program for Dairy (MPP-Dairy).* **See Final Dairy Rule**
 View Prices Info
 View Enrollment Info
 DMC Decision Tool
 About the Program
 Program at a Glance
 close  The program provides: Catastrophic coverage, at no cost to the producer, other than an annual $100 administrative fee that is waived in some cases; and
  Various levels of buy-up coverage.
  Dairy Margin Coverage Fact Sheet
 Benefits
 close  At a milk margin minus feed costs of $9.50 or less, DMC payments are possible depending on the level of coverage chosen by the dairy producer. 2024 DMC Program YearPayments triggered in January and February. The February margin rate is $9.44 2023 DMC Program Year Payments triggered in January, February, March, April, May, June, July, August, September, October and December. The December margin rate is $8.44. 2022 DMC Program Year Payments triggered in August and September. 2021 DMC Program Year Payments triggered in January, February, March, April, May, June, July, August, September, October and November. 2020 DMC Program Year Payments triggered for March, April, May, September and December. 2019 DMC Program Year Payments triggered in January, February, March, April, May, June and July
 Who is Eligible?
 close  To be eligible for DMC, a dairy operation must: Produce and commercially market milk from cows located in the United States; andProvide proof of milk production at the time of registration. Dairy operations may consist of one or more dairy producers who are in the business of commercially producing and marketing milk as a single unit. Dairy producers who are members of the dairy operation must share in the risk of producing milk and make contributions to the dairy operation that are at least commensurate with their share of the proceeds of the operation. Dairy operations must be in compliance with highly erodible land and wetland conservation provisions. For more information, visit fsa.usda.gov/compliance. Adjusted gross income provisions do not apply to DMC. Producers may have more than one dairy operation, but they must be separate and distinct in order to have a separate contract.
 How it Works
 close  To participate in DMC, dairy producers: Select a coverage level ranging from $4.00 to $9.50 per cwt, in $0.50 incrementsSelect a coverage percentage of the dairy operation’s production history ranging from 5 percent to 95 percent, in 5 percent increments Producers have the choice to lock in coverage levels until 2023 and receive a 25 percent discount on their DMC premiums. FSA and representatives from the University of Minnesota and the University of Wisconsin have partnered on the development of a DMC decision support tool that helps producers determine the level of coverage under a variety of conditions that will provide them with the strongest financial safety net. It allows farmers to simplify their coverage level selection by combining operation data and other key variables to calculate coverage needs based on price projections Visit the tool.
 How to Apply
 close  For both DMC (for calendar year 2023) and Supplemental DMC, the enrollment periods opened Oct. 17. and closed Jan. 31, 2023. Supplemental DMC coverage is applicable to calendar years 2021, 2022 and 2023.  Eligible dairy operations with less than 5 million pounds of established production history may enroll supplemental pounds. For producers who enrolled in Supplemental DMC in 2022, the supplemental coverage will automatically be added to the 2023 DMC contract that previously established a supplemental production history. Producers who did not enroll in Supplemental DMC in 2022 can do so now. Producers should complete their Supplemental DMC enrollment before enrolling in 2023 DMC. Enrollment for the 2022 calendar year opened on Dec. 13, 2021 and closed March 25, 2022
 More Information
 close  **Dairy Margin Coverage** This DMC decision tool can be used to help you look at and think about what your opportunities are. **Note on Sequestration:**DMC indemnity payments will be reduced by a certain percentage (5.7 percent for 2023; 5.7 percent for 2022; 5.7 percent for 2021; 5.9 percent for 2020; 6.2 percent for 2019) due to a sequester order required by Congress and issued pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985. FSA will reduce DMC indemnity payments by the applicable sequestration percentage before distribution to participating operations.
 Enrollment, Production, and Payments Updates
 close  For **both** DMC (for calendar year 2023) and Supplemental DMC, the enrollment period opened Oct. 17. and closed Dec. 9, 2022. Review 2023 and previous program year reports 2023 Dairy Margin Coverage Weekly Reports2023 Dairy Margin Coverage Weekly Report for January 22, 2024 (PDF, 110KB)
    2023 Dairy Margin Coverage Weekly Report for December 4, 2023 (PDF, 110KB)2023 Dairy Margin Coverage Weekly Report for November 6, 2023 (PDF, 110KB)
    2023 Dairy Margin Coverage Weekly Report for August 14, 2023 (PDF, 110KB)2023 Dairy Margin Coverage Weekly Report for July 3, 2023 (PDF, 110KB)
    2023 Dairy Margin Coverage Weekly Report for June 5, 2023 (PDF, 110KB)2023 Dairy Margin Coverage Weekly Report for May 1, 2023 (PDF, 110KB)
    2023 Dairy Margin Coverage Weekly Report for April 3, 2023 (PDF, 110KB)2023 Dairy Margin Coverage Weekly Report for March 6, 2023 (PDF, 110KB)
    2023 Dairy Margin Coverage Weekly Report for February 6, 2023 (PDF, 110KB) 2022 Dairy Margin Coverage Weekly Reports2022 Dairy Margin Coverage Weekly Report for January 22, 2024 (PDF, 110KB)
    2022 Dairy Margin Coverage Weekly Report for December 4, 2023 (PDF, 110KB)2022 Dairy Margin Coverage Weekly Report for November 6, 2023 (PDF, 110KB)
    2022 Dairy Margin Coverage Weekly Report for August 14, 2023 (PDF, 110KB)2022 Dairy Margin Coverage Weekly Report for July 3, 2022 (PDF, 110KB)
    2022 Dairy Margin Coverage Weekly Report for June 5, 2023 (PDF, 110KB)2022 Dairy Margin Coverage Weekly Report for May 1, 2023 (PDF, 110KB)
    2022 Dairy Margin Coverage Weekly Report for April 3, 2023 (PDF, 110KB)2022 Dairy Margin Coverage Weekly Report for March 6, 2023 (PDF, 110KB)
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    2021 Dairy Margin Coverage Weekly Report for October 26, 2020 (PDF, 108KB)2021 Dairy Margin Coverage Weekly Report for October 19, 2020 (PDF, 108KB) 2020 Dairy Margin Coverage Weekly Reports2020 Dairy Margin Coverage Weekly Report for January 22, 2024 (PDF, 110KB)
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    2020 Dairy Margin Coverage Weekly Report for October 28, 2019 (PDF, 104KB) 2019 Dairy Margin Coverage Weekly Reports2019 Dairy Margin Coverage Weekly Report for January 22, 2024 (PDF, 110KB)
    2019 Dairy Margin Coverage Weekly Report for December 4, 2023 (PDF, 110KB)2019 Dairy Margin Coverage Weekly Report for November 6, 2023 (PDF, 110KB)
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    2019 Dairy Margin Coverage Weekly Report for March 9, 2020 (PDF, 110KB)2019 Dairy Margin Coverage Weekly Report for March 2, 2020 (PDF, 109KB)
    2019 Dairy Margin Coverage Weekly Report for February 24, 2020 (PDF, 110KB)2019 Dairy Margin Coverage Weekly Report for February 18, 2020 (PDF, 110KB)
    2019 Dairy Margin Coverage Weekly Report for February 10, 2020 (PDF, 111KB)2019 Dairy Margin Coverage Weekly Report for January 27, 2020 (PDF, 106KB)
    2019 Dairy Margin Coverage Weekly Report for January 21, 2020 (PDF, 106KB)2019 Dairy Margin Coverage Weekly Report for January 14, 2020 (PDF, 104KB)
    2019 Dairy Margin Coverage Weekly Report for January 6, 2020 (PDF, 372KB)2019 Dairy Margin Coverage Weekly Report for December 16, 2019 (PDF, 106KB)
    2019 Dairy Margin Coverage Weekly Report for December 9, 2019 (PDF, 106KB)2019 Dairy Margin Coverage Weekly Report for December 2, 2019 (PDF, 106KB)
    2019 Dairy Margin Coverage Weekly Report for November 25, 2019 (PDF, 105KB)2019 Dairy Margin Coverage Weekly Report for November 18, 2019 (PDF, 376KB)
    2019 Dairy Margin Coverage Weekly Report for November 12, 2019 (PDF, 372KB)2019 Dairy Margin Coverage Weekly Report for November 4, 2019 (PDF, 106KB)
    2019 Dairy Margin Coverage Weekly Report for October 28, 2019 (PDF, 106KB)2019 Dairy Margin Coverage Weekly Report for October 21, 2019 (PDF, 106KB)
    2019 Dairy Margin Coverage Weekly Report for October 15, 2019 (PDF, 74KB)2019 Dairy Margin Coverage Weekly Report for October 7, 2019 (PDF, 102KB)
    2019 Dairy Margin Coverage Weekly Report for September 30, 2019 (PDF, 138KB)2019 Dairy Margin Coverage Weekly Report for September 23, 2019 (PDF, 102KB)
    2019 Dairy Margin Coverage Weekly Report for September 16, 2019 (PDF, 164KB)2019 Dairy Margin Coverage Weekly Report for September 9, 2019 (PDF, 74KB)
    2019 Dairy Margin Coverage Weekly Report for September 2, 2019 (PDF, 74KB)2019 Dairy Margin Coverage Weekly Report for August 25, 2019 (PDF, 74KB)
    2019 Dairy Margin Coverage Weekly Report for August 19, 2019 (PDF, 74KB)2019 Dairy Margin Coverage Weekly Report for August 11, 2019 (PDF, 76KB)
    2019 Dairy Margin Coverage Weekly Report for August 5, 2019 (PDF, 76KB)2019 Dairy Margin Coverage Weekly Report for July 29, 2019 (PDF, 76KB)
    2019 Dairy Margin Coverage Weekly Report for July 22, 2019 (PDF, 81KB)
 Prices
 close  Read the details on how the prices below are used in the DMC calculation. A change to use premium and supreme alfalfa hay will be used in the feed cost calculation for DMC Show prices for the year: Select Year
 Month
    Corn ($/bu)
    Premium Alfalfa Hay  ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    4.74
    274.00
    378.40
    20.10
    11.62
    8.48February
    4.36
    278.00
    363.63
    20.60
    11.16
    9.44MarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Month
    Corn ($/bu)
    Premium Alfalfa Hay  ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    6.64
    328.00
    482.40
    23.10
    15.16
    7.94February
    6.80
    324.00
    500.53
    21.60
    15.41
    6.19March
    6.67
    314.00
    484.40
    21.10
    15.02
    6.08April
    6.70
    315.00
    457.25
    20.70
    14.86
    5.84May
    6.54
    317.00
    423.58
    19.30
    14.47
    4.83June
    6.49
    310.00
    413.46
    17.90
    14.25
    3.65July
    6.22
    288.00
    443.15
    17.40
    13.88
    3.52August
    5.73
    282.00
    438.80
    19.70
    13.24
    6.46September
    5.21
    288.00
    411.07
    21.00
    12.56
    8.44October
    4.93
    278.00
    416.16
    21.60
    12.16
    9.44November
    4.66
    271.00
    464.27
    21.70
    12.12
    9.58December
    4.80
    275.00
    440.60
    20.60
    12.16
    8.44 Month
    Corn ($/bu)
    Premium Alfalfa Hay  ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    5.57
    262.00
    421.21
    24.20
    12.66
    11.54February
    6.10
    266.00
    480.96
    24.70
    13.72
    10.98March
    6.56
    269.00
    493.98
    25.90
    14.35
    11.55April
    7.08
    271.00
    476.70
    27.10
    14.81
    12.29May
    7.26
    274.00
    441.28
    27.30
    14.79
    12.51June
    7.37
    277.00
    445.93
    26.90
    14.98
    11.92July
    7.25
    333.00
    467.87
    25.70
    15.78
    9.92August
    7.24
    343.00
    510.90
    24.30
    16.22
    8.08September
    7.09
    342.00
    473.94
    24.40
    15.78
    8.62October
    6.50
    348.00
    468.68
    25.90
    15.19
    10.71November
    6.49
    331.00
    436.75
    25.60
    14.71
    10.89December
    6.58
    327.00
    462.85
    24.70
    14.94
    9.76 Month
    Corn ($/bu)
    Premium Alfalfa Hay  ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    4.24
    206.00
    439.24
    17.50
    10.60
    6.90February
    4.75
    211.00
    427.28
    17.10
    11.13
    5.97March
    4.89
    210.00
    410.02
    17.40
    11.14
    6.26April
    5.31
    211.00
    413.36
    18.40
    11.63
    6.77May
    5.91
    226.00
    421.03
    19.20
    12.53
    6.67June
    6.00
    230.00
    378.18
    18.40
    12.37
    6.03July
    6.12
    232.00
    365.23
    17.90
    12.43
    5.47August
    6.32
    238.00
    358.21
    17.70
    12.67
    5.03September
    5.45
    244.00
    343.55
    18.40
    11.71
    6.69October
    5.02
    247.00
    325.43
    19.70
    11.16
    8.54November
    5.27
    246.00
    358.73
    20.80
    11.66
    9.14December
    5.47
    253.00
    399.53
    21.80
    12.27
    9.53 Month
    Corn ($/bu)
    Premium Alfalfa Hay ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    3.79
    210.00
    300.11
    19.60
    9.15
    10.45February
    3.78
    210.00
    295.28
    18.90
    9.10
    9.80March
    3.68
    205.00
    312.38
    18.00
    9.05
    8.95April
    3.29
    209.00
    295.39
    14.40
    8.56
    5.84May
    3.20
    211.00
    288.56
    13.60
    8.44
    5.16June
    3.16
    201.00
    288.66
    18.10
    8.27
    9.83July
    3.21
    192.00
    291.25
    20.50
    8.21
    12.29August
    3.12
    192.00
    290.18
    18.80
    8.11
    10.69September
    3.41
    192.00
    319.99
    17.90
    8.64
    9.26October
    3.61
    194.00
    367.11
    20.20
    9.23
    10.97November
    3.79
    200.00
    387.83
    21.30
    9.66
    11.64December
    3.97
    203.00
    396.68
    18.50
    9.96
    8.54 Month
    Corn ($/bu)
    Blended Alfalfa Hay ($/ton)
    Soybean Meal ($/ton)
    All Milk ($/cwt)
    Final Feed Costs for DMC($/cwt)
    Milk Margin Above Feed Costs for DMC($/cwt)January
    3.56
    201.00
    314.92
    16.60
    8.89
    7.71February
    3.60
    202.50
    306.83
    16.80
    8.89
    7.91March
    3.61
    198.50
    306.38
    17.50
    8.84
    8.66April
    3.52
    209.00
    304.26
    17.70
    8.88
    8.82May
    3.63
    213.00
    297.52
    18.00
    9.00
    9.00June
    3.98
    205.00
    324.75
    18.10
    9.47
    8.63July
    4.16
    196.00
    310.77
    18.70
    9.43
    9.27August
    3.93
    193.50
    296.42
    18.90
    9.05
    9.85September
    3.80
    192.50
    295.57
    19.30
    8.89
    10.41October
    3.84
    192.00
    309.48
    19.90
    9.02
    10.88November
    3.68
    191.00
    303.13
    21.00
    8.79
    12.21December
    3.71
    187.50
    299.59
    20.70
    8.75
    11.95
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