MANAGERS BULLETIN: MGR–20-017
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
May 29, 2020
To:
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Martin R. Barbre, Administrator /s/ Martin R. Barbre 5/29/2020
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