Posted March 2, 2015
Agriculture Secretary Tom Vilsack announced 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), according to a USDA release available here. Farm Futures also published an article available hereand THV 11 here.
The final day to update yield history or reallocate base acres has been extended one additional month from Feb. 27, 2015. The final day for farm owners and producers to choose ARC or PLC coverage also remains March 31, 2015.
“This is an important decision for producers, because these programs provide financial protection against unexpected changes in the marketplace. Producers are working to make the best decision they can. And we’re working to ensure that they’ve got the time, the information, and the opportunities to have those final conversations, review their data, and to visit the Farm Service Agency to make those decisions,” said Vilsack.
Vilsack said that the extended deadline was primarily due to the challenges with southern operations, according to Farm Futures.
“Based on our most recent best guess we have roughly 60% of farm operations that have made the (base acre) election.”
The extension was made, says Tony Franco, chief of farm programs for USDA’s Farm Service Agency in Arkansas, “because of the complexity of the farm ill,” according to THV 11.
Producers needing more information on the programs, Agricultural Risk Coverage and Price Loss Coverage. can contact their local Farm Service Agency office or go to www.fsa.usda.gov/arc-plc.
For more information on farm bills, please visit the National Agricultural Law Center’s website here.