USDA has just announced that owners and producers will have one more week to reallocate base acres or elect between Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC). The new deadline for both activities is now April 7, 2015. This marks the second extension for owners to update their yield histories or reallocate base acres. Originally the deadline for this activity was February 27. On that date, however, USDA extended that deadline to March 31, which was also the deadline for producers to elect between ARC and PLC.
Today's announcement extends both deadlines to April 7. It also provides that producers who have an appointment at their local FSA offices scheduled by April 7 will be able to elect between PLC and ARC, even if their actual appointment is after April 7.
USDA notes in its announcement that 90 percent of producers have already made their coverage election and that 98 percent of owners have already updated their yields and base acres. The extension, however, is being provided to owners and producers to allow more time for "final conversations," reviewing data, visiting their local FSA offices, and making their decisions. If owners don't reallocate base acres or update yield histories, the farm's current yields and base acres will be used. If the producer does not elect between PLC and ARC, the farm will generate no farm program payment for 2014, and the farm will default to PLC for crop years 2015 through 2018.
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