Farm Bill 2014 is reported to be the most complicated Farm Bill in your farming history. Couple that complication with the fact that there is no default into the same farm program you’re used to and it becomes clear: you MUST educate yourself on these new farm programs.
You will have to decide which farm programs work best for you. Not only will you have to understand them well enough for yourself, but you will also have to have a conversation with your land owners and explain the options to them.
The University of Illinois’ Farm Bill Calculator can help.
This program will allow you to change a myriad of factors to determine the best farm program options for your farms. You can alter base acres, speculate on pricing, and predict yields for the coming years to fully understand how each program option will operate in any given set of circumstances.
Don’t rely on your FSA agent to decide for you. Investigate your options with the Farm Bill Calculator. Make sure you are making the best possible decision for your farm. And start early!
DON’T FORGET IMPORTANT FARM BILL SIGN UP DATES
• Sept. 29, 2014 to Feb. 27, 2015: Land owners may visit their local Farm Service Agency office to update yield history and/or reallocate base acres.
• Nov. 17, 2014 to March 31, 2015: Producers make a one-time election of either ARC or PLC for the 2014 through 2018 crop years.
• Mid-April 2015 through summer 2015: Producers sign contracts for 2014 and 2015 crop years.
• October 2015: Payments for 2014 crop year, if needed.