October an Important Month for FarmersMon, 04 Oct 2010 17:18:37 CDT
This month - USDA will distribute around 1.6-billion dollars in annual Conservation Reserve Program rental payments and 3.8-billion dollars in final 2010 direct payments to the nation’s farmers and ranchers. U.S. Ag Secretary Tom Vilsack made the announcement Monday. He said the funds distributed during October support the agricultural economy and responsible stewardship of America’s production acreage.
More than 1.1-million producers enrolled in the DCP and ACRE programs will receive final direct payments beginning October 12th. Participants in both programs had the option of receiving a 22-percent advance direct payment when the farm was enrolled or delaying the direct payment until after the end of the fiscal year. ACRE revenue payments are scheduled to be made at a later time.
The final 2009- crop peanut counter-cyclical payment rate is 25-dolars per ton. The final 2009-crop upland cotton CCP rate will be determined after Friday (October 8). The Commodity Credit Corporation will not issue any 2009 CCP payments for wheat, barley, oats, corn, soybeans, grain sorghum, dry peas or lentils. The effective price for these crops exceeds the target price. Counter-cyclical payment rates for sunflower seed, canola, large and small chickpeas and a handful of other crops will be determined as soon as practical after the market year average price is published on November 30th - and for rice after January 31st. Based on market price information to date - USDA does not expect counter-cyclical payments to be issued for these crops.
USDA reports producers holding 744-thousand CRP contracts on 416-thousnd farms will receive an average of $52.56 per acre in CRP rental payments. Producers earn an average of nearly four-thousand dollars per farm enrolled in CRP. Enrollment in the voluntary program - which helps ag producers safeguard environmentally sensitive land and provide habitat for wildlife - currently stands at 31.3-million acres.
WebReadyTM Powered by WireReady®NSI
Top Agricultural News