Signup begins Sept. 11 for more than $3 billion in aid. U.S. Secretary of Agriculture Sonny Perdue announced that agricultural producers affected by natural disasters in 2018 and 2019, including Hurricane Dorian, can apply for assistance through the Wildfire and Hurricane Indemnity Program Plus (WHIP+). Signup for this U.S. Department of Agriculture (USDA) program will begin Sept. 11, 2019. “U.S. …
Perdue on Current Financial Challenges for Farmers
Farmer concern regarding low prices and the farm economy led to a sharp drop in the August Ag Economy Barometer. The Perdue/CME Group economic measure fell 29 points compared to July, as producers’ concerns about the future of the farm economy led to a more negative outlook. At the recent Farm Progress Show, Agriculture Secretary Sonny Perdue spent time listening …
Farm Income to Increase in 2019
(NAFB) — The Department of Agriculture predicts farm income will rise in 2019, despite challenges impacting the farm economy. Last week, USDA reported inflation-adjusted U.S. net cash farm income is set to increase $5.8 billion, up 5.4 percent, to $112.6 billion. U.S. net farm income, a broader measure of farm sector profitability that incorporates noncash items including changes in inventories, …
Dairy Margin Coverage Signup Deadline Nearing
The U.S. Department of Agriculture’s (USDA) Farm Service Agency (FSA) reminds dairy producers the deadline to sign up for the Dairy Margin Coverage (DMC) program is Sept. 20. DMC provides coverage retroactive to Jan. 1, 2019, with applicable payments following soon after enrollment. USDA Under Secretary for Farm Production and Conservation Bill Northey says producers can choose between the $4.00 …
Trump Says Tariff Income to Help Hurricane-Damaged Farms
(NAFB) — President Donald Trump told reporters Wednesday that money the U.S. receives from tariffs on China will help farmers recover from Hurricane Dorian. Trump says, “we’ve taken in many billions of dollars of tariffs from China and we will have a lot of money to be helping our farmers along the coast if they get hit.” The President made …
ARC, PLC Enrollment Open
The Department of Agriculture this week opened enrollment for the Agriculture Risk Coverage, and Price Loss Coverage programs. Agriculture Risk Coverage, known as ARC, provides income support payments on historical base acres when actual crop revenue declines below a specified guarantee level. Price Loss Coverage, known as PLC, provides income support payments on historical base acres when the price for …
August Ag Economy Barometer Falls
(NAFB) — Farmer concern regarding low prices and the farm economy led to a sharp drop in the August Ag Economy Barometer. The Perdue/CME Group economic measure fell 29 points last month to a reading of 124. The barometer’s decline was attributed to declines in both the Index of Current Conditions, which dropped 19 points, and the Index of Future …
While Farmers’ Frustrations Grow, They Still Seem to Support Trump
While farmer frustration with the Trump administration continues to grow because of the trade war with China and small refinery waivers under the Renewable Fuel Standard, he still seems to have their support. Bloomberg says support for the president bounced back this year, with 67 percent of farmers in a Farm Futures Survey saying they’ll support his re-election in 2020. …
Farm Aid 2019 Planned for Wisconsin
The annual Farm Aid music and food festival will return to the heart of dairy country on Saturday, Sept. 21, in Wisconsin. Coordinators of the event say this year the organization stages Farm Aid 2019 in an economic climate similar to the one that sparked the first Farm Aid concert in 1985. President and Founder Willie Nelson says, “America’s family …
CBO: Trade War to Slow Economic Growth
(NAFB) — The bipartisan Congressional Budget Office says the trade war will slow economic growth, adding more fears of a possible recession.The CBO says tariffs, which reduce U.S. gross domestic product through higher prices, reduces consumer purchasing power. The report predicts the economy will grow at 1.8 percent per year over the next decade, below historical average growth rates. Agriculture …