U.S. Department of Agriculture Farm Service Agency (FSA) Administrator Val Dolcini has provided farmers new information to update program payment yields that will help them better select protections offered by the Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. The new programs, established by the Agriculture Act of 2014, are cornerstones of the commodity farm safety net, offering farmers protection when market forces cause substantial drops in crop prices and revenues.
“The farm bill provided landowners with the option of updating their farm program payment yields. This is the first time that many producers have been able to update yields since 1986,” said Dolcini. “We’ve worked with the Risk Management Agency to make available certified yield data that producers can use to better calculate how the new safety net programs can offer the best protection against market swings.”
Producers can check with local FSA county offices to see if data is available for them. This data belongs to the producer, and only the producer associated with the crop insurance records will be provided this service. Updating yield history or reallocating base acres can occur until Feb. 27, 2015.
FSA also issued a reminder that from Nov. 17, 2014, to March 31, 2015, producers will make a one-time election of either ARC or PLC for the 2014 through 2018 crop years. For more information, producers are encouraged to make an appointment with the local FSA county office. To find a local FSA county office, visit www.offices.usda.gov. Additional information on the new programs is available at www.fsa.usda.gov/arc-plc.
These programs were made possible through the Agriculture Act of 2014, which builds on historic economic gains in rural America over the past five years, while achieving meaningful reform and billions of dollars in savings for the taxpayer. Since enactment, the U.S. Department of Agriculture has made significant progress to implement each provision of this critical legislation, including providing disaster relief to farmers and ranchers; strengthening risk management tools; expanding access to rural credit; funding critical research; establishing innovative public-private conservation partnerships; developing new markets for rural-made products; and investing in infrastructure, housing and community facilities to help improve quality of life in rural America. For more information, visit www.usda.gov/farmbill.