Over 50,000 Farms in Wisconsin will Receive Financial Assistance Due to Safety Net Programs
Friday, November 10th, 2017 -- 8:03 AM
-USDA Wisconsin Farm Service Agency announced that approximately 51,045 Wisconsin farms that 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. Producers in 72 Wisconsin 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 $57.3 million. Payments related to corn, oats, soybeans and wheat crops made up much of those payments. There were also payments for canola and grain sorghum crops.
Payments by county for an eligible commodity can vary because average county yields will differ. Statewide, over 45,840 farms participated in ARC-County and nearly 5,205 farms participated in PLC. More details on the price and yield information used to calculate the financial assistance from the safety-net programs is available on the FSA website at www.fsa.usda.gov/arc-plc and www.fsa.usda.gov/wi.
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