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Economists predict ARC/PLC payments
A report by two esteemed ag economists predicts payments for the new Agriculture Risk Coverage-County and Price Loss Coverage programs in the Farm Bill will be 5.7 Billion dollars for the 2014 crop year with the bulk of payments in the ARC-county program.
Gary Schnitkey with University of Illinois and Carl Zulauf with Ohio State University say it is not clear whether final payments will exceed actual average payments of the 2008 farm bill, one of the goals of Congress in the 2014 Farm Bill.
The duo estimates corn will account for 84% of estimated ARC-county payments with long grain rice and peanuts accounting for the bulk of PLC payments.
For the full report click here.
Tags: agriculture risk coverage, ARC, Corn, Farm Bill, Illinois, Ohio, Peanuts, PLC, price loss coverage, Rice, Risk Management, safety net, Soybeans, USDA, Wheat
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