RMA MGR-20-017 Dairy Revenue Protection Sales Period Modification

RMA MANAGERS BULLETIN: MGR–20-017

SUBJECT: Dairy Revenue Protection Sales Period Modification

Background:

The Risk Management Agency (RMA) and the Dairy Revenue Protection (DRP) submitter identified that there is potential for prices to vary from the market-closing price established on Friday afternoon as compared to prices when trading resumes on Sunday afternoon.

Action:

Effective June 5, 2020, the definition of sales period will change by restricting the time period allowed to purchase DRP quarterly endorsements over a weekend. The weekend sales period will begin when the coverage prices and rates are published on Friday afternoon and ends at 9:00 AM Central Time on Sunday. This change does not impact Approved Insurance Provider’s processing of DRP endorsements and only impacts when insureds can purchase DRP quarterly endorsements. This change will be incorporated into the DRP policy for the 2022 crop year.

DISPOSAL DATE:
December 31, 2021

Source: USDA RMA Bulletin

Please refer to the USDA RMA website for the most current version of the bulletin available.