[Masthead] Fair ~ 62°F  
High: 84°F ~ Low: 54°F
Sunday, Oct. 26, 2014

End Rows for Nov. 23

Friday, November 26, 2010

Marketing

assistance loans

Marketing Assistance loans are commodity loans available to producers who share in the risk of producing the crop.

To be eligible, you must maintain beneficial interest in the crop through loan repayment.

Commodity loan eligibility also requires you comply with conservation and wetland protection requirements; beneficial interest requirements, file acreage reports, and ensure that the commodity meets CCC minimum grade and quality standards.

The quality of the commodity in farm storage must be maintained throughout the term of the loan.

Producers do not have to participate in the Direct and Counter-Cyclical Program to be eligible for commodity loans.

Violating provisions of a marketing assistance loan may trigger administrative actions, such as assessing liquidated damages, calling the loan and denial of future farm-stored loans.

The most common violations are removing or disposing of a commodity being used as loan collateral without prior authorization and providing an incorrect quantity certification.

The grain may be stored on-farm, or in a warehouse.

The term of the loans is 9 months.

The loan rates for grain stored in Saline County are:

--Wheat, 1.83/bushel

--Corn, 1.98/bushel

--Soybeans, 4.97/bushel

-- Grain Sorghum, 3.34/hundredweight

The Interest Rate for loans approved in November is 1.25 percent.

Livestock indemnity

program

As we move toward the winter months, we want to remind livestock producers of the Livestock Indemnity Program (LIP).

This program provides assistance to producers that experience livestock deaths in excess of normal mortality due to an adverse weather event including blizzards or extreme cold.

Normal mortality rates are established by the FSA State Committee and vary by kind, type, and weight of livestock:

-- Beef Non-adult less than 400 lbs -- 6%

Adult cow or bull -- 1.5%

--Dairy

Non-adult less than 400 lbs -- 5.0%

Adult cow -- 3.0%

Adult bull -- 1.5%

-- Swine

Feeder pigs under 50 lbs -- 10%

Sows and boars over 450 lbs -- 3.0%

The program covers eligible losses for nearly any type of livestock produced for commercial purposes.

Livestock used for recreational or hobby purposes are not eligible.

Producers must report losses within 30 days of the death.

If normal mortality for the year is exceeded due to an eligible cause of loss, then payment would be issued.

In summary,

-- If livestock producers experience any deaths due to weather, report those to the FSA office within 30 days of the death -- if not weather related, it's not eligible.

-- If the total number of deaths exceeds normal mortality for the calendar year, a payment is earned.

-- Keep accurate inventory records, take pictures of deceased livestock, and if possible, have a vet verify the cause of death.

Dates to remember

November 30 is the last day to report Prevented Planted wheat.

County Committee election ballots must be marked, signed and returned by December 6.

USDA Service Centers will be closed on Thursday, November 25 for Thanksgiving. We wish everyone a safe and happy holiday.