Several changes to Dairy Revenue Protection have been made for the 2021 crop year which began on July 1st. Changes include:
- A nonfat solids pricing option has been made available within the component pricing option. Within component positions, producers will now declare butterfat test pounds, protein test pounds and a component price weighting factor. The declared component price weighting factor is the percentage of protein and other solids prices used to determine liability, with the difference between 100% and the component price weighting factor being the percentage of nonfat solids prices used within the liability calculations.
- In addition to the changes made to the component pricing options, butterfat and protein component level ranges have been expanded for the 2021 crop year. The maximum declared butterfat level was raised from 5.00% to 5.50% while the maximum declared protein level was raised from 4.00% to 4.50%.
- Finally, Grade B Milk is now eligible for Dairy Revenue Protection coverage.
The aforementioned changes have been implemented into the Atten Babler proprietary Smart Quote algorithm. Login with your account information or follow this link to get setup with free access to the Smart Quote tool.