Browsing AREC Extension Publications by Author "Leathers, Howard"
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- Item2014 Farm Bill Makes Changes to the Noninsured Crop Disaster Assistance Program(2015-09) Goeringer, Paul; Leathers, HowardThe Noninsured Crop Disaster Assistance Program (NAP) was established in 1994 and administered by USDA’s Farm Service Agency (FSA). NAP is a risk management tool for those producers growing crops not currently covered by a crop insurance product. The 2014 Farm Bill reauthorized NAP and made some dramatic changes to the program. NAP now offers coverage from the 50-percent level to the 65-percent level with producers able to buy-up coverage in 5-percent increments at up to 100 percent of the established market price. Prior to the 2014 Farm Bill, NAP had only allowed coverage at the 50-percent level and 55 percent of the established market price of the crop.
- ItemCommodity Program Choices by Maryland Farmers under the 2014 Farm Bill(2015-07) Leathers, Howard; Goeringer, PaulQuick overview of which programs Maryland farmers signed up for with the 2014 Farm Bill.
- ItemCrop Insurance Option for Diversified Operations: Whole Farm Revenue Protection(2016-05-11) Goeringer, Paul; Leathers, HowardThe 2014 Farm Bill authorized USDA’s Risk Management Agency (RMA) to develop a new type of revenue insurance product: Whole-Farm Revenue Protection (WFRP). WFRP provides a risk management tool for all commodities on farms with up to $8.5 million in insured revenue. WFRP is not intended for one specific crop such as corn, wheat, or soybeans like traditional revenue and yield insurance products, but is intended to cover all crops and livestock grown on a farm. This new product has replaced the Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite policies.
- ItemEstimated Payments Under the 2014 County Agricultural Risk Coverage Program in Maryland(2015-07) Leathers, Howard; Goeringer, PaulProvides an estimate of potential payments by county for the 2014 Crop Year.
- ItemFederal Crop Insurance Program Expands in 2016 and 2017 to Cover More Organic Crops(2016-07-21) Goeringer, Paul; Leathers, Howard
- ItemPoultry Growers Will Have to Wait a Little Longer for Crop Insurance Coverage(2016-02) Goeringer, Paul; Leathers, HowardThis article reviews recent reports looking at the ability to implement crop insurance products for poultry growers. For both business interruption insurance and disease insurance, USDA concluded that the current legislation would not allow for the Risk Management Agency to develop products that work for these growers.
- ItemA Primer on Crop Insurance(2015-08) Leathers, Howard; Goeringer, PaulFundamentally, risk management on a farm is aimed at smoothing out the income or profit stream over time. This is accomplished by accepting lower incomes or profits during good times in exchange for higher incomes or profits during bad times. Crop insurance is an important tool for risk management. This paper describes comprehensively the details about how crop insurance works. Because crop insurance uses futures market prices in some important ways, the paper also briefly reviews how futures markets operate.
- ItemSupplemental Coverage Option Expanding as Part of the Farm Safety Net(2016-09-08) Goeringer, Paul; Leathers, HowardThe 2014 Farm Bill created Supplemental Coverage Option (SCO), a new add-on crop insurance option which provides supplemental coverage on a producer’s underlying crop insurance policy. SCO operates by mimicking a producer’s individual crop insurance coverage and covering a portion of the deductible based on county-level yield or revenue. SCO is available in select Maryland counties for apples, barley, corn, grain sorghum, green peas, oats, peaches, processing beans, soybeans, sweet corn, and winter wheat, as of the 2017 crop year. USDA’s Risk Management Agency (RMA) continues to expand covered counties and crops covered, and begin distinguishing by practices (such as irrigated compared to non-irrigated).