OSUís Dr. Amy Hagerman says March 15th is a Very Important Date for ProducersThu, 16 Jan 2020 09:23:21 CST
Dr. Amy Hagerman, with Oklahoma State Universities' Department of Ag Economics, says farmers have some decisions to make regarding the 2018 Farm Law.
Radio Oklahoma Ag Network Farm Director Ron Hays caught up with Amy to talk about the big decision day coming up in March, "March 15 is that hard deadline to get in, and elect, and enroll for ARC and PLC for 19, and then also for 20. The enrollment goes out a little bit further for 20 into June, but that March 15 is a really important deadline for election. If you miss that March 15 deadline, even March 16, then you will be unable to elect and receive a payment for 2019 ARC and PLC."
Hagerman has had the opportunity to meet with producers around the state and says the big thing on their mind is prices and trade. "The first, of course, is prices. Where our prices going, and what is that going to mean for that decision? I think they're really appreciative of the flexibility in this farmland where they are only locking in for two years. Then they have some flexibility to change their election, and the 21, 22, and 23 crop year, because we hope we start to see some recovery for some of our commodities.
I think trade is definitely up there in terms of their thoughts related to prices. What's going to happen with trade, and what does that mean for price uncertainty? And what they choose to elect to for some of their commodity programs they're looking at."
Hagerman says for those producers who are trying to make the selection between PLC and Arc should start by looking at their yields, "I think he really has to look at his yields. The yields in the county, and the yields that he has individually for PLC. Particularly when thinking about that arc decision, If you're in a county that has had some county average yields that are a little bit lower, that can actually affect whether or not ARC county is going to pay out better than PLC in your county. I think the lower prices have had people looking more closely at PLC for some of our commodities, but not really all. You know some of those reference prices really aren't that high as compared to what producers really need to make a profit on their operation. So if I had to pick two pieces of information to pay really particular attention to, pay attention to the reference prices, because those aren't the same as what the prices they're seeing all the boards, and pay attention to those county average yields."
Click on the LISTEN BAR below to hear the complete interview with Amy Hagerman as she talks With Ron Hays.
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