Depending on what crop you produce you, or the kind of market year the type of crop you produce had, you could be getting a payment from the U.S. government. Or you could not be. The U.S. Department of Agriculture (USDA) issued a news release today (October 14, 2009) that informs farmers of peanuts, corn, grain sorghum, soybean, and oats that are enrolled in the Direct and Counter-cyclical payment program not to expect their final 2008 payment. The reasoning: “average commodity prices remain above levels that trigger these payments.”
If you raise upland cotton, your news from the USDA is much different. Today the USDA will begin issuing payments for upland cotton. According to the news release, “[t]he final counter-cyclical payment rate for upland cotton is 12.58 cents per pound - the statutory maximum level. Producers who received a partial payment will receive 7.55 cents per pound, the final rate of 12.58 cents less the partial payment rate of 5.03 cents per pound.”
To learn more about this payment process or to read the USDA news release click here.
Posted: 10/14/09
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