End Rows for March 18, 2014
Farm bill website available
The 2014 farm bill repeals certain programs, continues some programs with modifications and authorizes several new programs administered by FSA. For the latest on 2014 farm bill programs administered by FSA, please visit www.fsa.usda.gov/farmbill and for an FSA program overview please review the recently posted FSA farm bill fact sheet titled, "What's in the 2014 farm bill for Farm Service Agency customers?"
The Direct and Counter-Cyclical program and the Average Crop Revenue Election program are repealed and replaced by two new programs: Price Loss Coverage (PLC) and Agricultural Risk Coverage (ARC).
Secretary Tom Vilsack indicated publicly that sign-up for the PLC and ARC programs may be this fall, but that has not been officially announced at this time.
USDA has to finalize the rules and regulations for these programs, write software, and then create the educational material to educate the producers on their options and train the county office staff.
New farm bill provides permanent livestock disaster assistance programs
The 2014 farm bill makes the Livestock Forage Program (LFP) and Livestock Indemnity Program (LIP) permanent programs and provides retroactive authority to cover eligible losses back to Oct. 1, 2011.
LFP provides compensation to eligible producers who suffered grazing losses due to drought and fire.
LIP provides compensation to livestock producers who suffered livestock death losses in excess of normal mortality due to adverse weather. USDA is determined to make implementing the livestock disaster programs a top priority and plans to open program enrollment by mid-April.
As USDA begins implementing the livestock disaster assistance programs, producers should record all pertinent information of natural disaster consequences, including:
-- Documentation of the number and kind of livestock that have died, supplemented if possible by photographs or video records of ownership and losses
-- Dates of death supported by birth recordings or purchase receipts
-- Costs of transporting livestock to safer grounds or to move animals to new pastures
-- Feed purchases if supplies or grazing pastures are destroyed
-- Crop records, including seed and fertilizer purchases, planting and production records
-- Pictures of on-farm storage facilities that were destroyed by wind or flood waters
-- Evidence of damaged farm land.
Additional information will be provided once the enrollment period is announced. In the meantime, producers can review the LIP and LFP fact sheets available at www.fsa.usda.gov or at the county office.
2014 crop wheat loans
The final date to apply for a loan on 2013 crop wheat or other small grains is March 31.
March interest rates:
Here are the interest rates for March:
-- Marketing assistance loans - 1.125 percent
-- 7-year term farm storage facility loans - 2.125 percent
-- 10-year term farm storage facility loans - 2.75 percent
-- 12-year term farm storage facility loans - 2.875 percent
-- Direct farm operating loans - 2.25 percent
-- Direct farm ownership loans - 4.25 percent
-- Farm ownership direct down payment - 1.5 percent
-- Farm ownership direct beginning farmer or rancher - 1.5 percent