Farm Policy, COVID-19 Slash Dairy Revenue Potential — Economist

The 2018 farm bill changed milk pricing rules in an effort to boost risk management capabilities through things like hedging opportunities in the futures market for stakeholders throughout the dairy supply chain all the way to the farm. That effort also created new milk price classes, then along came COVID-19, which created major dairy price volatility and supply issues. The pandemic revealed vulnerabilities in the dairy changes mandated by the farm bill, and it’s a call for new regulations to further boost risk management capabilities and restore revenue opportunities in milk classes and pricing. See and hear more on the dairy situation.