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Shining Light on Farm & Food Policy for 20 Years.
Saturday, December 21, 2024
Farmers will get some welcome relief starting next month from the market impact of the coronavirus, but it will take a second round of payments to keep many in the black this year, and producers may face similar problems into next year.
Cattle, dairy and hog producers as well as corn and soybean growers are expected to collect the largest shares of USDA’s $16 billion in coronavirus relief payments, which are designed to compensate for losses in sales or market value between January and April.
Farm groups are awaiting the release any day of USDA’s requirements for $16 billion in direct payments to compensate producers for the market losses caused by the coronavirus crisis. OMB completed its review of the planned program on Friday.
A $16 billion program to offer direct payments to producers is not yet ready for signup, but the Department of Agriculture is urging producers to begin several steps of the application process ahead of time.
It’s not everything that farm groups wanted, but the broad array of agricultural provisions in a $3 trillion coronavirus relief bill that the House is expected to vote on Friday are likely to find many supporters in the Senate.
