GreenStone Farm Credit Services is pleased to provide dairy producers with a new tool, designed for members who have signed a Dairy Revenue Protection application with its crop insurance team.
The DRP analyzer is designed to help farmers track and forecast expected income, calculate potential losses, and design risk management based on actual quarterly statistics.
"The DRP analyzer gives dairy farmers the security of knowing they've made the right risk management decisions," says Robert Netrefa, GreenStone crop insurance specialist. "When producers come to me with questions, we can use the analyzer tool to view how the insurance policy would perform under specific conditions."
The DRP analyzer enables GreenStone cooperative members to follow live daily tracking of producer endorsements and to develop operational projections based on production and revenue floors.
The dairy industry comes with an array of seasonal variables. This new tool is designed to allow side-by-side comparisons of coverage details unique to each farmer's operation, including tracking income, calculated loss probability and personalized risk management.
The tool allows ease of use, instant reports and ongoing development to add extra features and benefits.
Dairy Revenue Protection is a federally subsidized product and provides insurance for differences between the final revenue guarantee and actual milk revenue, if prices fall. It also offers a choice of prices, from those that focus on cheese, to fresh milk, protein or butterfat. Coverage levels are available from 80% to 95% of revenue.
For information about Dairy Revenue Protection, or to access the free DRP analyzer tool, contact your GreenStone crop insurance specialist.