Two months after announcing its intentions to provide a new package to assist family farmers and ranchers coping with trade damages, the USDA has released finalized details about the timing and calculation of direct payments to producers through the Market Facilitation Program (MFP).
The agency has earmarked up to $14.5 billion for the program to be distributed in three separate tranches. Eligible producers can submit applications for the first tranche beginning next Monday, July 29, through December 6, 2019, and payments will be sent out starting in mid- to late August. Most commodity grain producers will be compensated based on a single county rate ranging from $15 to $150 per planted acre.
For more detailed information on the Market Facilitation Program, visit your local FSA office or visit USDA’s MFP page.
For the first round of payments, they will receive a minimum of $15 per acre and up to 50% of the county rate. In contrast, dairy producers will receive 20 cents per hundredweight based on historical production.
Additional relief for hog and specialty crop producers will be available as well. Given the significant difficulties that ongoing trade uncertainty has caused, National Farmers Union is relieved that farmers will be receiving much-needed assistance. NFU President Roger Johnson released the following statement in response to USDA’s announcement:[Read more…]