The USDA announced the particulars of their Trade Mitigation program on Monday.
To start off Secretary Perdue was encouraged by the announcement of the trade agreement with Mexico.
Perdue remains hopeful of getting Canada to the table to finalize a North American Free Trade Agreement.
Perdue says the need to reign in Chinese trade practices was great.
USDA Undersecretary for Farm Production and Conservation Bill Northey announced the Numbers for the mitigation practices and the formulas which will be used.
The program will pay 50 percent of production numbers times the following pay rates for producers who have qualified.
- Wheat 14 cents / Bushel
- Sorghum 86 cents / Bushel
- Soy $1.65 / Bushel
- Corn 1 cent / Bushel
- Cotton 6 cents per pound
- Pork total number of hogs on hand 8/1/18… 50% of the total times $8
- Dairy MPP historical production number times 12 cents per hundredweight