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More MILC Links:
MILC Federal Registry (12/08)
MILC Handbook (2008)
MILC spreadsheet model

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MILC Payments

MILC

The Milk Income Loss Contract (MILC) program was reinstituted in the Farm Bill extension passed by Congress and signed by the President at the beginning of January 2013. MILC has been extended through August 31, 2013 at a payment rate of 45%, covering 2.985 million total pounds of milk per year with a feed adjuster factor of $7.35. In September 2013, the payment rate falls to 34%, the milk production covered drops to 2.4 million total pounds, and the feed adjuster factor goes up to $9.50.

MILC payments for September 2012 will now be paid at the rates in effect through August 2013. Producers who still had milk production eligible for payment should go to their FSA office to make certain their September production is on record so they receive that payment. USDA has confirmed they will begin issuing September 2012 payments on Feb. 5.
 

MILC Payment Forecasts Based on Futures
Settlement Prices September 3, 2013  
Year    Month     Target Forecast Mover MILC Payment
      $/Cwt.  
2012 Jan. 17.53 18.80 0.0000
  Feb. 17.90 17.03 0.3895
  Mar. 18.14 16.30 0.8262
  Apr. 18.35 15.66 1.2110
  May 18.55 15.85 1.2164
  June 18.28 15.24 1.3677
  July 19.15 15.51 1.6382
  Aug. 19.83 16.55 1.4761
  Sept. 18.91 17.59 0.5944
  Oct. 18.93 18.88 0.0237
  Nov. 19.25 20.70 0.0000
  Dec. 19.33 21.39 0.0000
2013 Jan. 19.23 18.97 0.1180
  Feb. 19.37 18.21 0.5222
  Mar. 19.48 17.80 0.7546
  Apr. 19.17 17.66 0.6797
  May 19.41 17.76 0.7424
  June 19.42 18.93 0.2187
  July 19.04 18.91 0.0584
  Aug. 17.91 18.88 0.0000
  Sept. 16.45 19.16 0.0000
  Oct. 16.16 19.57 0.0000
  Nov. 15.89 19.35 0.0000
  Dec. 15.67 19.10 0.0000
2014 Jan. 15.61 18.26 0.0000
  Feb. 15.57 17.94 0.0000
  Mar. 15.56 17.75 0.0000
  Apr. 15.56 17.50 0.0000
  May 15.57 17.15 0.0000
  June 15.59 17.18 0.0000
  Bold - Actual   Projections

 

 

For more information on the program, please see the FSA website.

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