(Washington) A onetime extension has been extended to producers for the new safety-net programs established by the 2014 Farm Bill, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC).
According to the USDA, the final day to update yield history or reallocate base acres has been extended one additional month to March 31, 2015. This is also the final day for farm owners and producers to choose ARC or PLC.
“This is an important decision for producers, because these programs provide financial protection against unexpected changes in the marketplace. Producers are working to make the best decision they can. And we’re working to ensure that they’ve got the time, the information, and the opportunities to have those final conversations, review their data, and to visit the Farm Service Agency to make those decisions,” said Vilsack.
If no changes are made to yield history or base acres by March 31, 2015, the farm's current yield and base will be used. A program choice of ARC or PLC coverage also must be made by March 31, 2015, or there will be no 2014 payments for the farm and the farm will default to PLC coverage through the 2018 crop year.
February 28, 2015