USDA issues Safety-Net Payments to New York state farmers

U.S. Department of Agriculture New York State Farm Service Agency Acting Executive Director Mark Dennis announced that approximately 17,600 New York State 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.

“These safety-net programs provide help when price and revenue fall below normal,” said Dennis. “Payments to corn, wheat, soybeans, oats, barley, grain sorghum and sunflower seed producers are helping provide reassurance to our New York State farm families who are standing strong against low commodity prices compounded by unfavorable growing conditions.”

Producers in most New York 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 over $45.5 million. Payments related to corn, wheat and soybean crops made up much of those payments.  There were also payments for oats, barley, and grain sorghum. Cash flow from these payments is particularly helpful to farmers and ranchers in counties impacted by damaging weather.

“Payments by county for an eligible commodity can vary because average county yields will differ,” said Dennis.

Statewide, over 17,600 farms participated in ARC-County and PLC. More details on the price and yield information used to calculate the financing assistance from the safety-net programs is available on the FSA website at www.fsa.usda.gov/arc-plc and www.fsa.usda.gov/ny.

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