The U.S. Department of Agriculture (USDA) recently announced details and deadlines for the Dairy Margin Protection Program and the Cotton Transition Assistance Program (CTAP). Both were established by the 2014 farm bill.
Applications are due Nov. 28 for the voluntary dairy program, which provides financial assistance to farmers when margins fall below the coverage level selected by the farmer. It replaces the Milk Income Loss Contract Program.
Participating farmers must remain in the program through 2018 and pay an annual minimum $100 administrative fee.
Applications for CTAP will be accepted at Farm Service Agency (FSA) offices through Oct. 7. CTAP is an interim payment option to assist cotton farmers until the Stacked Income Protection Plan (STAX) for upland cotton is implemented in 2015.
STAX, overseen by the USDA’s Risk Management Agency, is a new insurance product for cotton growers and will be available in all counties where insurance coverage for upland cotton is currently offered.
“Because of federal government changes taking place with the new fiscal year, it’s important farmers apply at their local FSA offices even before the Oct. 7 deadline,” said Alabama Farmers Federation Cotton Division Director Carla Hornady.
Congressionally mandated reductions on CTAP payments take effect Oct. 1 for producers who have not applied by Sept. 30.
These reductions will also affect the Livestock Forage Disaster Program, Livestock Indemnity Program, Tree Assistance Program and the Noninsured Disaster Assistance Program Frost Freeze payments.
Visit AlabamaFarmBill.com for the latest news on the 2014 farm bill.