Agricultural News
Over Ninety Five Thousand Oklahoma Farms to Receive Financial Help for the 2015 Crop Year- Including for ARC and PLC Programs
Sun, 09 Oct 2016 20:48:42 CDT
USDA Oklahoma Farm Service Agency (FSA) Executive Director, Lyndal Stoup announced that approximately 95,582 Oklahoma farms that enrolled in safety-net programs established by the 2014 Farm Bill will receive financial assistance for the 2015 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 revenues fall below normal, unlike the previous direct payments program that provided funds even in good years," said SED Stoup."These payments will help provide reassurance to Oklahoma farm families, who are standing strong agrainst low commodity prices compounded by unfavorable growing conditions. For example, 77 counties in Oklahoma harvest wheat and wheat producers have experienced a drop in price and revenue below the benchmark price established by the ARC and PLC. For seasame seed growers, however, the average price for the market year was higher than the historical benchmark established by the programs, so financial assistance did not occur."
"Payments by county can vary because average county yields will differ," said SED Stoup. Statewide, 29,125 farms participated in ARC-County and 21,719 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 the ARC/PLC webpage and the Oklahoma FSA webpage.
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