THE U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) announced it is increasing premium subsidies and will make other improvements to the Livestock Risk Protection (LRP) plan of insurance for feeder cattle, fed cattle, and swine starting with the 2021 crop year. The increased premium subsidy is retroactive to the beginning of the 2021 crop year (July 1st, 2020) and is based on the coverage selected by the livestock producer.
The Beige Book is a Federal Reserve System publication covering current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from District sources. The latest update was posted September 2nd.
The USDA Farm Service Agency’s (FSA) Conservation Reserve Program (CRP) is a voluntary program available to agricultural producers to help them safeguard environmentally sensitive land.
Haying and grazing of CRP acreage is authorized under certain conditions to improve the quality and performance of the CRP cover or to provide emergency relief to livestock producers due to certain natural disasters.
Previously emergency haying and grazing requests originated with FSA at the county level and required state and national level approval. Now approval will be based on drought severity as determined by the U.S. Drought Monitor.
The Beige Book is a Federal Reserve System publication covering current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from District sources. The latest update was posted July 15th.
USDA’s Risk Management Agency (RMA) today announced changes to the Livestock Risk Protection (LRP) insurance program for feeder cattle, fed cattle and swine starting this summer with the 2021 crop year. Changes include moving premium due dates to the end of the endorsement period and increasing premium subsidies to assist producers.
The Small Business Administration is now accepting new Economic Injury Disaster Loan (EIDL) applications by agricultural businesses only. The EIDL Program can provide up to $2 million of financial assistance to eligible businesses and private, non-profit organizations that suffer substantial economic injury as a result of a declared disaster. It provides relief from economic injury caused directly by the disaster and permits a successful applicant to maintain a reasonable working capital position during the period affected by the disaster.
The USDA’s Animal and Plant Health Inspection Service (APHIS) is establishing an National Incident Coordination Center to assist producers affected by meat processing plant closures and pledges to continue to seek solutions to ensure the continuity of operations and return to production as quickly, safely and as health considerations allow at these critical facilities.
USDA Small Business Administration (SBA) and U.S. Department of Treasury have released an interim final rule on the Business Loan Program and Paycheck Protection Program. These programs are intended to provide economic relief to small businesses nationwide adversely impacted under the Coronavirus Disease 2019 (COVID-19) Emergency Declaration (COVID-19 Emergency Declaration) issued by President Trump on March 13, 2020.
USDA Farm Service Agency (FSA) county offices are open by phone appointment only until further notice, and FSA staff are available to continue helping agricultural producers with program signups, loan servicing and other important actions. Additionally, FSA is relaxing the loan-making process and adding flexibilities for servicing direct and guaranteed loans to provide credit to producers in need.
Aricultural producers reported they were not able to plant crops on more than 19.4 million acres in 2019, according to a new report released by the U.S. Department of Agriculture (USDA). This marks the most prevented plant acres reported since USDA’s Farm Service Agency (FSA) began releasing the report in 2007 and 17.49 million acres more than reported at this time last year.
