USDA issues ARC and PLC payments to Colorado farmers
DENVER – USDA Colorado Farm Service Agency Executive Director, Acting SED Jenny Peterson announced that approximately 16,000 Colorado farms that 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 and Price Loss Coverage, 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,” Peterson said. “Payments to barley, canola, corn, lentils, oats, dry peas, grain sorghum, soybeans and wheat producers are helping provide reassurance to our Colorado farm families who are standing strong against low commodity prices compounded by unfavorable growing conditions.” Producers in 61 Colorado 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 $143 million. Payments related to corn crops made up much of those payments. There were also payments for barley, canola, lentils, oats, dry peas, grain sorghum, soybeans and wheat 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,” Peterson said. Statewide, over 5,700 farms participated in ARC-County and nearly 10,300 farms participated in 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 http://www.fsa.usda.gov/arc-plc and http://www.fsa.usda.gov/co.
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