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Tired of Roller Coaster Milk Margins?

November 25, 2014 By Ron Sylvester Leave a Comment

Graphic: USDA FSA

Graphic: USDA FSA

Under the new Farm Bill, the Margin Protection Program for Dairy (MPP-Dairy) provides financial assistance to participating dairy producers when the margin – the difference between the price of milk and the cost of feed – falls below the coverage level selected by the provider.

If you have not done so, visit your local county or regional USDA Farm Service Agency office with your production records by Dec. 5, 2014. When registering, paying only the $100 administrative fee provides basic $4 coverage on 90 percent of your production history. Additional coverage up to $8 margins is available with a premium.

Sign up for 2015 coverage so you will receive an automatic increase in production history for 2016.

Evaluate your options at www.fsa.usda.gov/mpptool to compare coverage levels based on future projections or look at historical data.

Filed Under: Blog Tagged With: Dairy, Deadline, FSA, Margin Protection Program, MPP, USDA

FSA Update: Margin Protection Program for Dairy Producers

August 5, 2014 By Ron Sylvester Leave a Comment

The following is from USDA Farm Service Agency:

The 2014 Farm Bill authorizes a new dairy program, the Margin Protection Program for Dairy Producers (MPP-Dairy), which will replace the Milk Income Loss Contract (MILC) program no later than September 1, 2014.  The MPP-Dairy program is a voluntary program that provides dairy operations with risk management coverage that will compensate producers when the difference between the all-milk price and the average cost of feed falls below a certain level selected by the producers in a dairy operation.

Eligible producers can obtain either a catastrophic level of coverage for their dairy operation by paying a $100 administrative fee annually or they may obtain increased coverage at various levels by paying a premium in addition to the administrative fee.  Available price coverage levels begin at $4.00 and coverage may be increased in $.50 increments through $8.00 per hundredweight.  Available coverage percentages begin at 25 percent and coverage may be increased in 5 percent increments through 90 percent.  A dairy operation’s selection of a $4.00 coverage level with a coverage percentage of 90 is considered the catastrophic level of coverage.  Indemnity payments under the program will be triggered when margins fall below the producer-selected levels.

[Read more…]

Filed Under: Blog Tagged With: Dairy, FSA, Margin Protection Program, MPP-Dairy, USDA

Specialy Crop Farmers Get New Opportunities with Expanded Farm Storage and Facility Loan Program

March 28, 2014 By Ron Sylvester Leave a Comment

As part of a broader range of changes to USDA FSA Farm Loan Programs, the U.S. Dept. of Agriculture has announced a major expansion in the Farm Storage and Facility program.

Storage and facility loans provide low interest financing to farmers who are wish to upgrade or expand their operations. The changes to this particular loan program include 23 new categories of eligible equipment for fruit and vegetable producers. Notably, Farm Storage and Facility loan security requirements have been eased for loans between $50,000 and $100,000.

*DOWNLOAD USDA FACT SHEET ON LOAN PROGRAM CHANGES HERE*

Previously, all loans in excess of $50,000 required a promissory note and additional security, such as a lien on real estate. Now loans up to $100,000 can be secured by only a promissory note.

USDA suggests small and mid-sized farmers check out this page for more information about specific tools and resources available to them.

For more specific information about FSA programs including the Farm Storage Facility Loan Program, visit your FSA county or regional office. You can also find FSA online.

Filed Under: Blog, Uncategorized Tagged With: Farm Storage and Facility Loan, FSA, USDA

Vilsack says farm loan program modifications will create more flexibility for new and existing farmers

March 28, 2014 By Ron Sylvester Leave a Comment

Agriculture Secretary Tom Vilsack announced several changes to USDA FSA Farm Loan Programs earlier this week. The changes come immediately as a result of passage of the 2014 Farm Bill.

Changes that will take effect immediately include:

  • Elimination of loan term limits for guaranteed operating loans.
  • Modification of the definition of beginning farmer, using the average farm size for the county as a qualifier instead of the median farm size.
  • Modification of the Joint Financing Direct Farm Ownership Interest Rate to 2 percent less than regular Direct Farm Ownership rate, with a floor of 2.5 percent. Previously, the rate was established at 5 percent.
  • Increase of the maximum loan amount for Direct Farm Ownership down payments from $225,000 to $300,000.
  • Elimination of rural residency requirement for Youth Loans, allowing urban youth to benefit.
  • Debt forgiveness on Youth Loans, which will not prevent borrowers from obtaining additional loans from the federal government.
  • Increase of the guarantee amount on Conservation Loans from 75 to 80 percent and 90 percent for socially disadvantaged borrowers and beginning farmers.
  • Microloans will not count toward loan term limits for veterans and beginning farmers.
  • Additional modifications must be implemented through the rulemaking processes.

“Our nation’s farmers and ranchers are the engine of the rural economy. These improvements to our Farm Loan Programs will help a new generation begin farming and grow existing farm operations,” said Vilsack.

“(This) announcement represents just one part of a series of investments the new Farm Bill makes in the next generation of agriculture, which is critical to economic growth in communities across the country.”

Check out this FSA fact sheet on the loan program modifications.

Filed Under: Blog Tagged With: 2014 Farm Bill, Farm Loan Programs, FSA, USDA

Marketing Assistance Loans and Loan Deficiency Payments for 2013 Crop Year

February 5, 2013 By Ron Sylvester Leave a Comment

usda-fsa

The marketing assistance loan (MAL) and loan deficiency payment (LDP) provisions authorized in the Food, Conservation and Energy Act of 2008 (the 2008 Farm Bill) have been extended for the 2013 crop year with the passage of the American Taxpayer Relief Act of 2012.

MALs and LDPs provide financing and marketing assistance for wheat, rice, feed grains, soybeans and other oilseeds, peanuts, pulse crops, cotton, honey and wool. Assistance is available to eligible producers beginning with harvest or shearing season and extending through the program year. The 2013 mohair crop is not eligible for MALs or LDPs because mohair provisions were suspended by the Consolidated and Further Continuing Appropriations Act of 2012 and the Continuing Appropriations Resolution, 2013.

MALs provide producers interim financing at or after harvest to help them meet cash flow needs without having to sell their commodities when market prices are typically at harvest-time lows. A producer who is eligible to obtain a loan, but agrees to forgo the loan, may obtain an LDP if such payments are available.

For more information about marketing assistance loan and loan deficiency payments, please visit your FSA county office or FSA’s Ohio website.

Filed Under: Blog Tagged With: FSA, Loans, USDA

USDA Announces New Microloan Program

January 15, 2013 By Ron Sylvester Leave a Comment

usdafsaSmall, family or socially disadvantaged farmers now have access to a USDA microloan program.

The microloans – identified by USDA as loans under $35,000 were announced by USDA Secretary Tom Vilsack today in Memphis, TN. Vilsack also announced recently that he will be staying on as ag secretary into President Barack Obama’s second term.

USDA said the purpose of these smaller loans secured through the agency are to assist start-up farmers in building their business so that they may eventually move into the commercial credit arena.

“I have met several small and beginning farmers, returning veterans and disadvantaged producers interested in careers in farming who too often must rely on credit cards or personal loans with high interest rates to finance their start-up operations,” said Vilsack. “By further expanding access to credit to those just starting to put down roots in farming, USDA continues to help grow a new generation of farmers, while ensuring the strength of an American agriculture sector that drives our economy, creates jobs, and provides the most secure and affordable food supply in the world.”

The National Farmers Union praised the program. “The next generation of family farmers are critical to the continuation of the long tradition of agriculture in our country,” said NFU President Roger Johnson. “Today’s announcement is a tremendous benefit to those looking to enter into farming.”

“Beginning farmers and ranchers and veterans will greatly benefit from this program, and a streamlined application process is of great value,” said Johnson. “Access to credit is one of the greatest challenges that beginning farmers and ranchers face, and I commend the department for proposing a common-sense way to help alleviate the problem.”

According to USDA’s website, the microloan program features a streamlined application process. Loans may be used for:

  • Initial start-up expenses;
  • Annual expenses such as seed, fertilizer, utilities, land rents;
  • Marketing and distribution expenses;
  • Family living expenses;
  • Purchase of livestock, equipment, and other materials essential to farm operations;
  • Minor farm improvements such as wells and coolers.
  • Hoop houses to extend the growing season;
  • Essential tools;
  • Irrigation;
  • Delivery vehicles.

Click here for an online fact sheet.

For information on the program or to apply, farmers are encouraged to contact their local Farm Service Agency office.

 

Filed Under: Blog Tagged With: FSA, Microloans, Ohio, USDA

2012 Crop Year Commodity Loans Available

November 28, 2012 By Ron Sylvester Leave a Comment

USDA FSA has this reminder for producers:

Now that the 2012 harvest is nearly complete, the Farm Service Agency reminds producers of their options to obtain a Marketing Assistance Loan for 2012 crop corn and soybeans. For the 2012 crop year, the corn and soybean loan rates are $1.91 and $5.09 per bushel. The Market Assistance Loan program provides producers with cash flow at a reasonable interest rate while the crop is in storage on the farm or at a local elevator. The November 2012 interest rate is 1.125%.

You can read the entire release here, or for information contact your local FSA office or visit the FSA website.

Filed Under: Blog Tagged With: Commodity Loans, FSA, USDA

OSU Extension – USDA host Licking County Meeting – Make Your Land Work for You

November 4, 2012 By Ron Sylvester Leave a Comment

The Ohio State University Extension and the U. S. Department of Agriculture will host a public meeting November 8 at 6pm. The meeting will be held at the Licking County USDA Service Center located at 771 East Main St., Newark, Ohio 43055 to discuss local conservation and agriculture topics.

The discussion will begin with, “What is algae and why is there so much of it?” As OSU Extension experts explain what’s happening with algae in our lakes and what that means for farmers and other citizens.

“Why better soil grows better crops, and better pastures grow more nutritious food for grazing animals” as USDA Natural Resources Conservation Service (NRCS) District Conservationist explains how to make your land more productive.

Learn how USDA supports agriculture through conservation efforts and disaster relief as the NRCS State Conservationist and the Farm Service Agency (FSA) State Executive Director provide agency updates.

For more information about this meeting, please contact Christina Reed at 614-255-2527 or by email at Christina.Reed@oh.usda.gov

 

Filed Under: Blog Tagged With: FSA, Licking County, OSU Extension, USDA

USDA FSA changes could affect farmers’ 2012 IRS tax filings

October 24, 2012 By Ron Sylvester Leave a Comment

from the Fulton-Lucas FSA County office:

USDA Farm Service Agency (FSA) will be making changes that may affect your 2012 tax filings with the Internal Revenue Service. Farmers and other recipients of farm program payments will need to know about these IRS code changes for reporting and filing income taxes.

[Read more…]

Filed Under: Blog Tagged With: FSA, IRS, Taxes

Farm Loan Program Fact Sheets Updated

October 7, 2012 By Ron Sylvester Leave a Comment

The U.S. Department of Agriculture’s Farm Service Agency (FSA) makes and guarantees loans to family farmers and ranchers to promote, build and sustain family farms in support of a thriving agricultural economy. The goal of the loan program is to graduate borrowers to commercial credit. The USDA released a revised version of its general fact sheet and program descriptions for these loans in early October. Click the link below to download or view the updated fact sheet.

USDA-FSA Farm Loans FACT SHEET October 2012

USDA-FSA Farm Loans Chart October 2012

[Read more…]

Filed Under: Blog Tagged With: Farm Loans, FSA, USDA

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