The U.S. Department of Agriculture announced that is issuing payments to dairy farmers enrolled in the Milk Income Loss Contract program for the September marketings.
The payment rate for September is approximately 59 cents per hundredweight. The payment rate for October marketings is 2 cents per hundredweight and the rate for November marketings is zero. Before the October MILC payment can be issued, farmers must complete a new Average Adjusted Gross Income form for 2013.
The American Taxpayer Relief Act of 2012 extended the authorization of the farm bill approved in 2008 through 2013 for many programs, including MILC.