PRODUCT MANAGEMENT BULLETIN: PM–23-053
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Washington, DC 20250-0801
All Risk Management Agency Field Offices
All Other Interested Parties
On August 17, 2023, under section 508(h) of the Federal Crop Insurance Act the Federal Crop Insurance Corporation Board of Directors approved revisions to the Dairy Revenue Protection (DRP) Commodity Exchange Endorsement (CEE) for the 2024 crop year for all endorsements that have an effective date on or after September 16, 2023, and for the 2025 and succeeding crop years. The changes include:
- Section 3 – Revised the commodity exchange endorsement to state that Class III and Class IV actual prices will be determined based on the AMS, Market Information Branch, Announcement of Class and Component Prices report.
The Dairy Revenue Protection Commodity Exchange Endorsement (24-DRP-CEE) will be available by close of business today on the Risk Management Agency (RMA) website at www.rma.usda.gov/Policy-and-Procedure/Insurance-Plans/Livestock-Insurance-Plans.
Approved Insurance Providers must notify policyholders of these changes at least 30 days prior to the cancellation date, as required by the policy.
Interested producers should contact a crop insurance agent for further information. A list of agents can be found on the RMA website at www.rma.usda.gov/Information-Tools/Agent-Locator.
Questions regarding these modifications may be directed to firstname.lastname@example.org.
December 31, 2024