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New Guide for Dairy Farmers in Difficult Times Available

These are tough economic times for dairy farmers. The recession caused many to suffer financially due to the ebbing price of milk. In many seasons, dairy farmers may have been paying more to feed their cows then they were getting from the milk they produced. Farmers' Legal Action Group wrote an article explaining some options for dairy farmers.

For example, Congress created various programs to help farmers during these very economic emergencies. Three types of emergency payment programs include Milk Income Loss Contract (MILC), Dairy Economic Loss Assistance Payment Program (DELAP) and Dairy Indemnity Payment Program (DIPP). There are also various insurance options available to dairy farmers post-disaster such as Federal Crop Insurance and Livestock Forage Disaster Program.

The article also discusses the option of bankruptcy, specifically, Chapter 12 bankruptcy which is designed to allow family farmers to restructure their debts, rather than completely liquidating their assets. To learn more, view the entire Tools for Dairy Farmers in Tough Economic Times article.

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