USDA issues safety-net payment to farmers

     USDA Colorado Farm Service Agency Executive Director, Acting SED Jenny Peterson announced that approximately 16,000 Colorado farms enrolled in safety-net programs established by the 2014 Farm Bill will receive financial assistance for the 2016 crop year. The programs, known as Agriculture Risk Coverage and Price Loss Coverage, 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 revenue fall below normal,” said Peterson. “Payments to barley, canola, corn, lentils, oats, dry peas, grain sorghum, soybeans and wheat producers are helping provide reassurance to our Colorado farm families who are standing strong against low commodity prices compounded by unfavorable growing conditions.”
     Producers in 61 Colorado counties have experienced a significant drop in prices or revenues below the benchmark established by the ARC or PLC program and thus, will receive payments totaling $143 million. Payments related to corn crops made up much of those payments.

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