USDA Unveils New Risk Management Programs

usda-logoAgriculture Secretary Tom Vilsack today unveiled the new programs included in the 2014 Farm Bill to help farmers better manage risk. The new programs, Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC), represent the end of direct payments by offering farmers protection when market forces cause substantial drops in crop prices and/or revenues. Producers will have through early spring of 2015 to select which program works best for their businesses.

Stressing that the programs are “farm by farm and crop by crop” decisions, Vilsack announced that new tools are now available to help provide farmers the information they need to choose the new safety net program that is right for their business.

Learn more from Secretary Vilsack in this teleconference held with reporters this morning: Secy Vilsack announces new farm programs