USDA issues conservation, safety net payments
Over $9.6 billion in payments will be made, beginning this week, to producers through the Agriculture Risk Coverage (ARC), Price Loss Coverage (PLC) and Conservation Reserve (CRP) programs.
The USDA is issuing approximately $8 billion in payments under the ARC and PLC programs for the 2016 crop year, and $1.6 billion under CRP for 2017.
The ARC and PLC programs were authorized by the 2014 Farm Bill and offer a safety net to agricultural producers when there is a substantial drop in revenue or prices for covered commodities. Over half a million producers will receive ARC payments and over a quarter million producers will receive PLC payments for 2016 crops, starting this week and continuing over the next several months.
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