2014 Farm Bill Farm Safety Net: Summary and Brief Thoughts

• A crop farm has a one-time, irrevocable opportunity to elect either Price Loss Coverage (PLC) or county Agricultural Risk Coverage (ARC) on a crop by crop basis. The producer may also elect individual farm ARC, but this election applies to the entire farm. If no choice is made, the farm defaults to PLC. All producers on a farm must make the same election or face potential loss of payments for the 2014 crop.

Keywords

AGRICULTURAL FINANCE, AGRIBUSINESS, FARM MANAGEMENT, AGRICULTURAL AND FOOD POLICY

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