USDA Announces Additional $250 Million in Financial Assistance For Distressed Farm Loan Borrowers
The U.S. Department of Agriculture (USDA) announced an additional $250 million in automatic payments for distressed direct and guaranteed farm loan borrowers under Section 22006 of the Inflation Reduction Act. This significant step continues USDA's commitment to keeping farmers and ranchers financially viable and support for agricultural communities.
Over the past two years, USDA acted swiftly to assist borrowers in retaining their land and continuing their agricultural operations. Since President Biden signed the Inflation Reduction Act into law in August 2022, the USDA has provided approximately $2.4 billion in assistance to more than 43,900 distressed borrowers.
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Farmers and Small Businesses Awarded $104 Million by USDA
The U.S. Department of Agriculture (USDA) has awarded farmers and small businesses from 34 states, including Arkansas and Louisiana, grants through the Rural Energy for America Program (REAP) to expand access to clean energy and lower energy bills.
In Louisiana, farmers and small businesses were awarded more than $2.2 million to combat the climate crisis.
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Federal Drought Relief Policies Leave Some Farmers Out to Dry
On a recent fall day, as Wilburn Harris did the rounds on his cattle farm in the Missouri town of Drexel, he was met with brown grass, cracked soil and half-empty ponds.
He was used to it. Last year’s drought was so bad, he had to haul water and hay to his farm to keep the animals fed and watered.
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Louisiana Grain Stocks: September 30, 2024
Louisiana all wheat stored in off farm storage facilities on September 1, 2024 totaled 6.92 million bushels, up 28 percent from a year ago. United States all wheat stored in all positions on September 1, 2024 totaled 1.99 billion bushels, up 12 percent from a year ago. On farm stocks are estimated at 664 million bushels, up 11 percent from last September. Off farm stocks, at 1.32 billion bushels, are up 13 percent from a year ago.
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USDA Announces October 2024 Lending Rates for Agricultural Producers
The U.S. Department of Agriculture (USDA) announced loan interest rates for October 2024, which are effective Oct. 1, 2024. USDA Farm Service Agency (FSA) loans provide important access to capital to help agricultural producers start or expand their farming operation, purchase equipment and storage structures, or meet cash flow needs.
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New Position Created at Louisiana Farm Service Agency, Pittman Named Deputy State Executive Director
The United States Department of Agriculture has created a new position in state Farm Service Agency offices designed to keep continuity of services during changes of Federal administrations. That new position is the Deputy State Executive Director (DSED) and serves in a direct supervisory line over all Federal FSA positions in the state. The position would also serve as the State Executive Director’s (SED) proxy in their absence and participates fully with the SED in managing state programs to further the agency’s mission.
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USDA Offers $58 Million in Available Assistance to Help Organic Dairy Producers
The U.S. Department of Agriculture (USDA) announced $58 million available for marketing assistance to eligible organic dairy producers through the Organic Dairy Marketing Assistance Program (ODMAP) 2024 to help expand the market for organic dairy and increase the consumption of organic dairy.
“The Organic Dairy Marketing Assistance Program continues USDA’s commitment to keep the market for organic dairies sustainable as they weather challenges outside of their control,” said USDA’s Farm Service Agency (FSA) Administrator Zach Ducheneaux.
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USDA Hosts Final National Equity Convening Focused on Power of Partnerships, Progress Made in Advancing Equity
The U.S. Department of Agriculture (USDA) hosted the Final Equity Convening to celebrate the work of the USDA Equity Commission and the progress the Department has made under the Biden-Harris Administration to improve access to and inclusion in its programs and services. Held at the USDA Headquarters in Washington, D.C., this event represented a culmination of the National Equity Summit and eight regional equity convenings hosted by the Department throughout this year, as well as an opportunity for discussion around how equity and inclusion are a central focus of USDA’s programs.
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Beauregard Parish Ranks High in Food Insecurity in Louisiana
According to The United States Department of Agriculture, 1 in 7 people in Louisiana struggle with access to healthy foods. Beauregard Parish is one of the most affected by food insecurity.
”If you’re comparing it to other communities around the country it’s not very good. We have one of the highest rates of food insecurity,” Paul Scelfo, Chief Regional Officer of Second Harvest Food Bank, said.
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USDA Farm Loan Program Changes Now In Effect
As of Wednesday, the U.S. Department of Agriculture’s (USDA) long-awaited updates to the Farm Service Agency’s (FSA) Farm Loan Programs are officially in effect. These changes, part of the Enhancing Program Access and Delivery for Farm Loans rule, are designed to increase financial flexibility for agricultural producers, allowing them to grow their operations, boost profitability, and build long-term savings.
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USDA Announces Fiscal Year 2025 Sugar Loan Rates, Allotment and Marketing Allocations
The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) announced sugar loan rates for crop year 2024 (fiscal year 2025).
USDA offers commodity loans to processors of sugar beets and domestically grown sugarcane to provide interim financing to producers so that sugar can be stored after harvest when market prices are typically low and then sold later when price conditions are more favorable.
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USDA Launches Assistance Network To Support Financially Distressed Farmers & Ranchers
The U.S. Department of Agriculture (USDA) is announcing the launch of the Distressed Borrowers Assistance Network, an initiative designed to provide personalized support to financially distressed farmers and ranchers across the nation
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Louisiana Crop Production Report: September 12, 2024
Louisiana corn for grain production is forecast at 85.0 million bushels, up 3 percent from August 1 forecast but down 29 percent from 2023. Based on conditions as of September 1, yield is expected to average 191 bushels per acre, up 6 bushels from last month and up 16 bushels from last year. Harvested acreage for grain is estimated at 445,000 acres, down 235,000 acres from 2023.
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USDA Forecasts Net Farm Income To Fall Further In 2024
USDA's Economic Research Service (ERS) forecasts inflation-adjusted U.S. net cash farm income (NCFI), defined as gross cash income minus cash expenses, will decrease by $16.3 billion (9.6 percent) to $154.1 billion in 2024. This would come after an NCFI decrease of $52.9 billion (23.7 percent) in 2023 from an all-time high of $223.3 billion in 2022.
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New Fiscal Year 2025 Funding For Agricultural Conservation Easements Announced
The United States Department of Agriculture (USDA) announced new funding for the Agricultural Conservation Easement Program (ACEP) for fiscal year 2025 as part of President Biden and Vice President Harris’ Investing in America agenda. Administered by USDA’s Natural Resources Conservation Service, the program helps landowners and other eligible entities conserve, restore, and protect wetlands, productive agricultural lands, and grasslands at risk of conversion to non-grassland uses. Healthy wetlands, grasslands, and farmlands sequester carbon and provide many other natural resource benefits. Today’s funding is made possible by the Inflation Reduction Act, the largest investment in climate action in history.
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