USDA Nebraska FSA Acting Executive Director Mike Eller and Wyoming FSA Acting Executive Director Jodene Johnson announced that approximately 85,000 Nebraska farms and 2,650 Wyoming farms enrolled in safety-net programs established by the 2014 Farm Bill will receive financial assistance for the 2016 crop year. The programs, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), are designed to protect against unexpected drops in crop prices or revenues due to market downturns.
“These safety-net programs provide help when price and revenue fall below normal,” Eller and Johnson said. “Payments to barley, corn, oats, dry peas, grain sorghum, and wheat producers are helping provide reassurance to our Wyoming and Nebraska farm families who are standing strong against low commodity prices compounded by unfavorable growing conditions.”
Producers in 93 Nebraska counties have experienced a significant drop in prices or revenues below the benchmark established by the ARC or PLC program and thus, will receive payments totaling $638 million. Payments related to corn, soybeans, grain sorghum and wheat crops made up much of those payments. There also were payments for less-predominant crops such as dry peas and barley.
Producers in 20 Wyoming counties have experienced a significant drop in prices or revenues below the benchmark established by the ARC or PLC program and thus, will receive payments totaling $12.6 million. Payments related to barley, corn, oats, and wheat crops made up much of those payments. There were also payments for dry peas and grain sorghum crops. Cash flow from these payments is particularly helpful to farmers and ranchers in counties impacted by natural disasters.
“Payments by county for an eligible commodity can vary because average county yields will differ,” Johnson and Eller said.
Statewide, over 2,969 farms participated in ARC and PLC. More details on the price and yield information used to calculate the financing assistance from the safety-net programs is available on the FSA website at www.fsa.usda.gov/arc-plc, www,fsa,usda.gov/ne, and www.fsa.usda.gov/wy.