Friday, June 27, 2014

Fwd: Potter/McKean/Cameron June 2014 Newsletter



---------- Forwarded message ----------
From: USDA Farm Service Agency <usdafsa@service.govdelivery.com>
Date: Fri, Jun 27, 2014 at 12:40 PM
Subject: Potter/McKean/Cameron June 2014 Newsletter
To: iammejtm@gmail.com


June 2014

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Potter/McKean/Cameron County FSA Updates


Potter/McKean/Cameron  County FSA Office

103 Market Street

Coudersport, PA 16915

Phone: 814-274-8522

Fax855-768-9015

County Executive Director:
David Stratton

Farm Loan Manager:
John Felondis

Program Technicians:
Melanie Housler

Next County Committee Meeting: To be determined

USDA ANNOUNCES THE EXTENSION OF THE MILK INCOME LOSS CONTRACT PROGRAM FOR 2014

The USDA Farm Service Agency (FSA) recently announced the extension of the Milk Income Loss Contract (MILC) program which protects dairy farmers against income loss through Sept. 1, 2014, or until a new Margin Protection Program for dairy producers (MPP) is operational.

Contracts for eligible producers enrolled in MILC on or before Sept. 30, 2013, are automatically extended until the termination date of the MILC program.  Dairy operations with approved MILC contracts will continue to receive monthly payments if a payment rate is in effect. 

MILC compensates enrolled dairy producers when the Boston Class I milk price falls below $16.94 per hundredweight (cwt), after adjustment for the cost of dairy feed rations.  MILC payments are calculated each month using the latest milk price and feed cost, just as in the 2008 Farm Bill.  The payment rate for October 2013 through January 2014 marketings is zero.  Payment rates during the months after January 2014 until the termination of the MILC program will be determined as the appropriate data becomes available.  

Producers who want to select a different production start month must visit their local FSA office between April 14, 2014, and May 30, 2014.

FSA will provide producers with information on program requirements, updates and sign-ups as the information becomes available. 


2014 Acreage Reporting Dates

In order to comply with FSA program eligibility requirements, all producers are encouraged to visit the Name County FSA office to file an accurate crop certification report by the applicable deadline.

The following acreage reporting dates are applicable for Pennsylvania:

 June 15, 2014:            Spring Barley, Spring Forage Seeding, Spring Oats, Rye, Triticale, Spring Wheat

July 15, 2014:             All other crops and CRP

August 15, 2014:         Beans, Cabbage

 The following exceptions apply to the above acreage reporting dates:

  If the crop has not been planted by the above acreage reporting date, then the acreage must be reported no later than 15 calendar days after planting is completed.

·         If a producer acquires additional acreage after the above acreage reporting date, then the acreage must be reported no later than 30 calendars days after purchase or acquiring the lease. Appropriate documentation must be provided to the county office.

      If a perennial forage crop is reported with the intended use of "cover only," "green manure," "left standing," or "seed," then the acreage must be reported by July 15th.

Noninsured Crop Disaster Assistance Program (NAP) policy holders should note that the acreage reporting date for NAP covered crops is the earlier of the dates listed above or 15 calendar days before grazing or harvesting of the crop begins.

 

 

 


DIRECT LOAN CHANGES

Changes were made to the interest rate charged on loans where FSA provides 50 percent or less on jointly financed purchases of real estate also called Direct Farm Ownership Participation Loans. The interest rate will be the greater of 2.5 percent or the current interest rate for direct Farm Ownership loans minus 2 percent, as a fixed rate for the duration of the loan. At present, the June direct Farm Ownership rate is 4.00 percent. Because the 2.5 percent floor is greater than subtracting 2 percent from the current direct farm ownership loan rate, the rate for Direct Farm Ownership Participation Loans in June is 2.50 percent. 


NEW FARM BILL OFFERS INCREASED OPPORTUNITIES FOR PRODUCERS

The 2014 Farm Bill offers increased opportunities for producers including farm loan program modifications that create flexibility for new and existing farmers. A fact sheet outlining modifications to the U.S. Department of Agriculture's (USDA) Farm Service Agency (FSA) Farm Loan Programs is available here.

The Farm Bill expands lending opportunities for thousands of farmers and ranchers to begin and continue operations, including greater flexibility in determining eligibility, raising loan limits, and emphasizing beginning and socially disadvantaged producers.   

Changes that will take effect immediately include:

·         Elimination of the 15 year term limit 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 Payment Loan Program 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 guaranteed percentage on Conservation Loans from 75 to 80 percent and 90 percent for socially disadvantaged borrowers and beginning farmers.

·         Microloans will not count toward direct operating loan term limits for veterans and beginning farmers.

Additional modifications must be implemented through the rulemaking processes. Visit the FSA Farm Bill website for detailed information and updates to farm loan programs.

 

 

 




USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay),
(866) 377-8642 (Relay voice users).

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