DES MOINES- USDA Iowa Farm Service Agency (FSA) Executive Director, John Whitaker, announced approximately 154,000 Iowa 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 Whitaker. “These payments will help provide reassurance to Iowa farm families, who are standing strong against low commodity prices compounded by unfavorable growing conditions. For example, all counties in Iowa have experienced a 32% drop in price below the benchmark price established by the ARC program for corn and a 27% drop in price for soybeans.”
“Payments by county can vary because average county yields will differ,” said SED Whitaker.
Statewide, 147,133 farms participated in ARC-County and 6,592 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 www.fsa.usda.gov/arc-plc and www.fsa.usda.gov/ia.