By Roy Thagard
Since cotton insurance risk management will not be available due to the language within the 2014 Farm Bill, allow us to alert cotton growers to future options you will have. The USDA has new, online programs to help farmers choose what risk program will best fit their operation. Cotton Growers have the choice between two risk-management programs: Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC). USDA says choices can be made through early spring 2015.
“We’re committed to giving farmers as much information as we can so they can make an informed decision between these programs,” said Vilsack. “These resources will help farm owners and producers boil the information down, understand what their options are, and ultimately make the best decision on which choice is right for them. We are very grateful to our partners for their phenomenal work in developing these new tools within a very short time frame.”
Starting Monday, Sept. 29, 2014, farm owners may begin visiting their local Farm Service Agency (FSA) offices if they want to update their yield history and/or reallocate base acres, the first step before choosing which new program best serves their risk management needs.
Farmers have until Oct 7, 2014 to enroll in the Cotton Payment Program through the FSA. Growers should define their base acreage before this date to receive this one-time payment.
Source:ncsu.edu