Jeremy Daubert email@example.com, Rockingham County Dairy Extension Agent
It is time again to consider signing up for the Dairy-Margin Protection Program (MPP). This year’s election period runs through September 30th for the 2016 production year. Every farm that enrolled for 2015 will need to re-enroll before the deadline. You may enroll at a different coverage level than you did the previous year or at the same level. The chart below shows the premiums at each coverage level. The premium is per cwt (100 lbs of milk shipped) and is in addition to the $100 fee. Continue reading
April 7 is the final day for farm landowners to reallocate commodity program base acres and update payment yields, and for producers to choose between Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC). According to the March 27 USDA announcement of the new deadline, nearly 98 percent of owners had completed the base acre/payment yield process, and 90 percent of producers had elected either ARC-CO (county-coverage), ARC-IC (farm-coverage), or PLC. For the remaining landowners and producers, it’s time to act, because inaction will cause the following: 1) all program crops on all your FSA farms owned or operated will continue with existing base acre allocations and payment yields, 2) all program crops on all your FSA farms will be assigned to PLC during 2015-2018, and 3) no 2014 ARC or PLC payments will be received. The cost of inaction was described earlier in this blog in “Corn ARC-Co and PLC Forecast Payments: Look Carefully Before Choosing!” Continue reading
Jim Pease, (firstname.lastname@example.org) Professor
Agricultural and Applied Economics, Virginia Tech
If you’re a producer who has not yet filed an FSA form CCC-857 for your election of Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC), there is little time remaining to make an appointment with your local FSA office. The deadline is March 31, 2015 for this important commodity program decision. Continue reading
The deadline for farmland owners to register program base acre reallocation and payment yield update decisions with USDA/Farm Service Agency is March 31, 2015. Many landowners will not understand the choices or will not make the effort to work with the cash tenant. “So why should I care – the payments all go to the cash tenant, not me.” True, but shortsighted. The rental rate and market value of farmland are based partly on the farm’s potential to generate commodity payments. If base reallocation and payment yield choices are not made, the value of the farmland may well be reduced. Continue reading
James Pease, Professor, Department of Agricultural and Applied Economics, Virginia Tech
Although FSA has extended the deadline for commodity program base acreage reallocation and payment yield updates to March 31 for farm landowners, the agency has held firm to the March 31 deadline for producers to choose among ARC-county, PLC, or ARC-farm programs. If the landowner simply does not act by March 31, then covered commodity base acres and payment yields on the FSA farm will remain at their current values throughout 2014-2018.
However, this inaction creates a problem for some producers. The base reallocation and/or yield update landowner choice must be completed prior to the producer choice of program. If the landowner doesn’t act by March 31, the producer has no time to choose a desired commodity program. Without base reallocation/yield update actions by the landowner (either to retain or reallocate/update), producers will not be able to make a program choice, and will find themselves assigned to the no-action program choice – Price Loss Coverage for 2015-2018, with no 2014 payments. The payment consequences for producers are most obvious for crops such as soybeans, for which virtually no one has forecast a marketing-year average price below the Reference Price of $8.40 throughout 2014-2018. Producers should do whatever they can to ensure landowner base acre and yield update choices are recorded with FSA as quickly as possible.
Farmers Now Have Until March 31 to Update Yields and Reallocate Base Acres; Deadline for Choosing Between ARC and PLC also Remains March 31
WASHINGTON, Feb. 27, 2015 — Agriculture Secretary Tom Vilsack announced today that a one-time extension will be provided to producers for the new safety-net programs established by the 2014 Farm Bill, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC). The final day to update yield history or reallocate base acres has been extended one additional month, from Feb. 27, 2015 until March 31, 2015. The final day for farm owners and producers to choose ARC or PLC coverage also remains March 31, 2015.
Visit http://www.usda.gov/wps/portal/usda/usdahome?contentid=2015/02/0051.xml&contentidonly=true to read the full press release from USDA.
Dr. Jim Pease, Professor and Extension Economist
February 27, 2015 is the last day that landowners or producers with landowner proxy can choose to re-allocate 2014-2018 farm program acres or update program payment yields. The deadline is fixed and will not be extended, and the choices made are irrevocable until after 2018. It is very important for both parties to evaluate options and take action now on desired options. Continue reading
Theme: Facilitating New Opportunities in the Global Marketplace
Dates: March 9-10, 2015
Location: Richmond Marriott Hotel
This conference is organized by the Virginia Department of Agriculture & Consumer Services, the Virginia Farm Bureau Federation, the Virginia Port Authority and the Virginia Tech Department of Agricultural and Applied Economics. The 2015 Governor’s Conference on Agricultural Trade: Facilitating New Opportunities in the Global Marketplace, the seventh such event, will be held in Richmond on March 9 and 10. It will once again feature an outstanding array of speakers from the front lines of our trade sector, individuals who are involved in this complex marketplace every day. Conference participants will hear from foreign dignitaries, private-sector leaders, trade negotiators and others on topics that are timely and relevant for 2015 and beyond.
Please register for the conference at this site.
The current conference agenda can be found here.
Jim Pease, Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech
The 2012 Census of Agriculture shows a strong economic sector with a big “footprint” on Virginia farmland. In terms of harvested acres, the Census indicates that the 4 principal grains and oilseeds harvested are soybeans (578,852 acres), corn grain (338,132 acres), wheat (241,979 acres), and barley (37,023 acres). Harvested acres increased over 2007 for soybeans (+18%), wheat (+21%), and barley (+33%), but fell for corn (-14%), reflecting lower corn price expectations. Continue reading
Dr. Jim Pease gives insight into the Commodity Title, Conservation Title and relevant portions of the Crop Insurance Title pieces of the Agricultural Act of 2014 this tapped webinar:http://connect.ag.vt.edu/p38z40z47yg/?launcher=false&fcsContent=true&pbMode=normal. Continue reading