End Rows for April 8, 2014
LFP/LIP program signups
The 2014 farm bill makes the Livestock Forage Disaster Program (LFP) and Livestock Indemnity Program permanent programs and provides retroactive authority to cover eligible losses back to October 1, 2011.
LFP provides compensation to eligible livestock producers who have suffered grazing losses due to drought or fire. LIP also provides compensation to eligible livestock producers who have suffered livestock death losses in excess of normal mortality due to adverse weather.
Local FSA staff will receive training on these programs this week.
Signup is expected to begin next week.
Milk Income Loss Contract (MILC) program extended
The extended MILC program protects dairy farmers enrolled in the program against income loss through Sept. 1, or until a new Margin Protection Program for dairy producers (MPP), established by the 2014 farm bill, is operational.
Dairy operations with approved MILC contracts will continue to receive monthly payments if a payment rate is in effect.
Since MILC payments are limited to a maximum amount of milk production each fiscal year, dairy operations may select a production start month other than October 2013 (the start of fiscal year 2014).
Producers who want to select a different production start month must visit their local FSA office between April 14, and May 30.
USDA farm bill resources
April interest rates
Here are the interest rates for April:
-- Commodity loans: 1.125 percent
-- Farm storage facility loans with 7-year term: 2.125 percent
-- Farm storage facility loans with 10-year term: 2.75 percent
-- Farm storage facility loans with 12-year term: 2.875 percent
-- Farm operating loans: 2.0 percent
-- Farm ownership-beginning farmer: 1.5 percent
FSA online resource
AskFSA is an online resource that helps you easily find information and answers to your FSA questions no matter where you are or what device you use.
It is for all customers, including underserved farmers who wish to be enrolled in FSA loans, farm, and conservation programs.
Through AskFSA you can:
-- Access our knowledge base 24/7
-- Receive answers to your questions faster
-- Submit a question and receive a timely response from FSA experts
-- Get notifications when answers important to you and your farming operation are updated.
-- Customize your account settings and view responses at any time.
To use this service, visit www.askfsa.custhelp.com.