USDA launched the
trade mitigation package aimed at assisting farmers suffering from damage due
to unjustified trade retaliation by foreign nations. Producers of certain
commodities can now sign up for the Market Facilitation Program (MFP).
USDA
provided
details in August of the programs to be employed. USDA’s
Farm Service Agency (FSA) will administer the Market Facilitation Program (MFP)
to provide payments to corn, cotton, dairy, hog, sorghum, soybean, and wheat
producers. An announcement about further payments will be made in the coming
months, if warranted. USDA is currently working to determine how to
address market disruptions for producers of almonds and sweet cherries.
The
sign-up period for MFP is now open and runs through Jan. 15, 2019, with
information and instructions provided at www.farmers.gov/mfp.
MFP provides payments to cotton, corn, dairy, hog, sorghum, soybean, and wheat
producers who have been significantly impacted by actions of foreign
governments resulting in the loss of traditional exports. Eligible
producers should apply after harvest is complete, as payments will only be
issued once production is reported.
A
payment will be issued on 50 percent of the producer’s total production,
multiplied by the MFP rate for a specific commodity. A second payment
period, if warranted, will be determined by the USDA.
Market
Facilitation Program
Commodity Est.
Initial Payment** Initial
Payment Rate (in $1,000s)
Cotton $0.06/lb. $276,900
Corn $0.01/bu. $96,000
Dairy (milk) $0.12/cwt.
$127,400
Pork (hogs) $8.00/head
$290,300
Soybeans $1.65/bu.
$3,629,700
Sorghum $0.86/bu.
$156,800
Wheat
$0.14/bu.
$119,200
Total $4,696,300
**Initial payment rate on 50% of production
MFP
payments are limited to a combined $125,000 for corn, cotton, sorghum,
soybeans, and wheat capped per person or legal entity. MFP payments are
also limited to a combined $125,000 for dairy and hog producers. Applicants
must also have an average adjusted gross income for tax years 2014, 2015, and
2016 of less than $900,000. Applicants must also comply with the provisions of
the Highly Erodible Land and Wetland Conservation regulations.
For
more further information or to locate and contact local FSA offices, interested
producers can visit www.farmers.gov
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