Organic and aquaculture producers will soon be able to benefit from updates that USDA’s Risk Management Agency (RMA) is making to the Whole-Farm Revenue Protection Plan. RMA is revising the plan of insurance to make it more flexible and accessible to producers beginning in crop year 2022. RMA Acting Administrator Richard Flournoy explains what plan does. Changes to the program include increasing expansion …
Farm Sector Profits Forecast to Increase in 2021
A Department of Agriculture report forecasts increased farm income for 2021. Net farm income is forecast to increase by $18.5 billion, or 19.5 percent. At $113.0 billion, net farm income would be at its highest level since 2013 and 20 percent above its 20-year average of $93.9 billion. In inflation-adjusted 2021 dollars, USDA expects net farm income to rise $15.0 …
Revised Closing Dates for Pilot Crop Insurance Programs
Agricultural producers will now have until December 1 to make coverage decisions and complete reporting activities for the Pasture, Rangeland, and Forage Pilot Insurance Program (PRF) and Apiculture Pilot Insurance Program (API). The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) is making this change and other updates to these two policies based on feedback from stakeholders. Risk Management Agency Acting …
Loans Available Through Heirs’ Property Relending Program
The Biden administration is looking to help eliminate some of the ownership and succession issues that arise for many agricultural producers that inherit land. Last month, the establishment of the Heirs’ Property Relending Program (HPRP) was announced where the U.S. Department of Agriculture (USDA) will oversee the distribution of $67 million in competitive loans. The Farm Service Agency (FSA) considers …
Farmer Optimism, the Supply Chain, and How They Affect Tractor Sales
In the second quarter of 2021, money that had been diverted by COVID-19 from travel and other activities into the small tractor market began to return to normal use. But, sustained gains in commodity prices have resulted in farmers continuing their buying sprees for larger tractors and harvesters, as shown in AEM’s monthly Ag Tractor and Combine reports. The under-40 …
Beef Herd Downsizing Might Send Cattle Prices Rising
If you are wondering what the market effects of the current gradual downsizing of the beef cattle herd might be, Gary Crawford has a story to help answer that question. USDA Outlook Board Chairman Mark Jekanowski gives the latest forecasts for U.S. meat production and meat exports. Sponsored ContentCIR Agriculture Harvester ProductsJuly 1, 2026FL Cattle Enhancement Board Wraps up Funding …
Pandemic Assistance for Livestock, Poultry Contract Producers and Specialty Crop Growers Updated by USDA
USDA Sets October 12 Deadline for CFAP 2 (WASHINGTON, Aug. 24, 2021) —The U.S. Department of Agriculture (USDA) is updating the Coronavirus Food Assistance Program 2 (CFAP 2) for contract producers of eligible livestock and poultry and producers of specialty crops and other sales-based commodities. CFAP 2, which assists producers who faced market disruptions in 2020 due to COVID-19, is part …
Propane Prices Heading Higher
Liquid Propane (LP) prices in the U.S. could be heading higher based on current supply/demand factors. A Successful Farming article says that could mean higher corn drying costs for farmers this fall. Looking ahead to the LP market environment for grain drying in the fall, analysts are said to be using descriptions like “train wreck” and “tug-of-war.” The rising LP …
Overall Bankruptcy Rates Dropping
Despite challenges from COVID-19 and bad weather, higher commodity prices and government support have finally turned the tide around on year-over-year increases in Chapter 12 bankruptcies. The American Farm Bureau looked at data from the U.S. Courts from June 2020 through June 2021 and found there were 438 Chapter 12 bankruptcy filings, down 24 percent. The number of Chapter 12 …
Milk Prices below Expectations, Could Go Lower Next Year
Earlier this month, it was announced that the June margin under the Dairy Margin Coverage (DMC) program dropped 65 cents from May’s margin to $6.24/cwt, which will generate a June payment of $3.26/cwt for $9.50/cwt coverage. So dairy operators are getting the benefits of the DMC program this year, and according to a story from Gary Crawford, that may continue in 2022. …