WASHINGTON – USDA has extended by one week the sign-up period for the new farm bill safety net programs. Eligible producers now have until April 7th to make a determination between the Agricultural Risk Coverage (ARC) Program or the Price Loss Coverage (PLC) Program.
“This is an important decision for producers because these programs help farmers and ranchers protect their operations from unexpected changes in the marketplace,” said USDA Secretary Tom Vilsack in a statement. “Nearly 98 percent of owners have already updated their yield and base acres, and 90 percent of producers have enrolled in ARC or PLC. These numbers are strong, and continue to rise. This additional week will give producers a little more time to have those final conversations, review their data, visit their local Farm Service Agency offices, and make their decisions.”
Under the 2014 farm bill, farmers originally had until February 27th to update their yields and reallocate their base acres with FSA. Those two steps provided producers a chance to provide USDE with a better picture of their productivity, and their planting decisions. Farmers also had until March 31st to decide between the ARC program, which makes payments based on production history, or the PLC program, which makes payments based on statutory reference prices.
Following an extension announced on February 27, the deadline to reallocate base acres and update yields was pushed back to March 31st; with Friday’s announcement, producers have until the following Tuesday to select the ARC or PLC program.
If producers don?t make a decision on ARC or PLC by April 7th, they will default into the PLC program. If producers don?t update yields or reallocate base acres, FSA will simply retain the current figures.
