Category: New Releases

Press release from the USDA. View original here.

WASHINGTON, Oct. 30, 2017 – The U.S. Department of Agriculture (USDA) today announced that starting Nov. 1, 2017, farmers and ranchers with base acres in the Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC) safety net program may enroll for the 2018 crop year. The enrollment period will end on Aug. 1, 2018.

“Since shares and ownership of a farm can change year-to-year, producers must enroll by signing a contract each program year,” said Farm Service Agency (FSA) Acting Administrator Steve Peterson. “I encourage producers to contact their local FSA office to schedule an appointment to enroll.”

The producers on a farm that are not enrolled for the 2018 enrollment period will not be eligible for financial assistance from the ARC or PLC programs for the 2018 crop should crop prices or farm revenues fall below the historical price or revenue benchmarks established by the program. Producers who made their elections in previous years must still enroll during the 2018 enrollment period.

“This week FSA is issuing approximately $850 million in rice payments,” said Peterson. “These payments are part of the $8 billion in 2016 ARC and PLC payments that started in October to assist enrolled producers who suffered a loss of revenue or price, or both. Over half a million producers will receive ARC payments and over a quarter million producers will receive PLC payments for 2016 crops.”

The ARC and PLC programs were authorized by the 2014 Farm Bill and offer a safety net to agricultural producers when there is a substantial drop in prices or revenues for covered commodities. Covered commodities include barley, canola, large and small chickpeas, corn, crambe, flaxseed, grain sorghum, lentils, mustard seed, oats, peanuts, dry peas, rapeseed, long grain rice, medium grain rice (which includes short grain and sweet rice), safflower seed, sesame, soybeans, sunflower seed and wheat. Upland cotton is no longer a covered commodity. For more details regarding these programs, go to www.fsa.usda.gov/arc-plc. For more information, producers are encouraged to visit their local FSA office. To find a local FSA office, visit http://offices.usda.gov.

PRICE LOSS COVERAGE PAYMENT ANNOUNCED

The prices for peanuts paid to farmers were very low last year. Over 99.6% of the peanut farmers signed up for the Price Loss Coverage (PLC) program. USDA says that from August 31, 2016 through August 30, 2017, the average price of peanuts in the U.S. as paid to farmers was $.1970 per lb. or $394 per ton.

In the peanut law, the reference price is $535 per ton or $.2675 per lb. When the reference price is higher than the average price paid to farmers, the difference will be paid based on the tons of base allocated to that peanut farm, so $141 per ton. The farmers would take the $141 per ton times 85% of the base acres (includes generic base allocated to peanuts) on that farm serial number times the payment yield for that farm serial number. A payment of $141 per ton ($535-$394 per ton) will be made in October 2017 covering last year’s crop on 85% of the farm’s base. The PLC payment made in October 2016 for crop year 2015-16 was $149 per ton or $0.0745/lb

USDA PREDICTS RECORD CROP

Peanut production is forecast at a record high 7.78 billion pounds (3,890,600 tons), up 5% from August and up 37% from 2016. Acreage updates were made in several states based on a thorough review of all available data. Planted area, at 1.88 million acres, is up 3% from the June estimate and is 13% higher than the 2016 planted area. Harvested area is expected to total 1.83 million acres, up 3% from the August forecast and up 18% from 2016.

Based on conditions as of September 1, the average yield for the U.S. is forecast at 4,254 lbs. per acre, up 64 lbs. per acre from August and 579 lbs. per acre above 2016. The average U.S. yield will be the highest on record, if realized. The largest yield increases from last year are expected in Georgia and Texas. Record high yields are forecast in Alabama, Georgia, Mississippi and South Carolina. If realized, production in Georgia and South Carolina will be the highest on record

PRICE LOSS COVERAGE PAYMENT ANNOUNCED

The prices for peanuts paid to farmers were very low last year. Over 99.6% of the peanut farmers signed up for the Price Loss Coverage (PLC) program. USDA says that from August 31, 2016 through August 30, 2017, the average price of peanuts in the U.S. as paid to farmers was $.1970 per lb. or $394 per ton.

In the peanut law, the reference price is $535 per ton or $.2675 per lb. When the reference price is higher than the average price paid to farmers, the difference will be paid based on the tons of base allocated to that peanut farm, so $141 per ton. The farmers would take the $141 per ton times 85% of the base acres (includes generic base allocated to peanuts) on that farm serial number times the payment yield for that farm serial number. A payment of $141 per ton ($535-$394 per ton) will be made in October 2017 covering last year’s crop on 85% of the farm’s base. The PLC payment made in October 2016 for crop year 2015-16 was $149 per ton or $0.0745/lb

USDA PREDICTS RECORD CROP

Peanut production is forecast at a record high 7.78 billion pounds (3,890,600 tons), up 5% from August and up 37% from 2016. Acreage updates were made in several states based on a thorough review of all available data. Planted area, at 1.88 million acres, is up 3% from the June estimate and is 13% higher than the 2016 planted area. Harvested area is expected to total 1.83 million acres, up 3% from the August forecast and up 18% from 2016.

Based on conditions as of September 1, the average yield for the U.S. is forecast at 4,254 lbs. per acre, up 64 lbs. per acre from August and 579 lbs. per acre above 2016. The average U.S. yield will be the highest on record, if realized. The largest yield increases from last year are expected in Georgia and Texas. Record high yields are forecast in Alabama, Georgia, Mississippi and South Carolina. If realized, production in Georgia and South Carolina will be the highest on record.

ORIGINAL SOURCE: AMERICAN PEANUT COUNCIL

The U.S. Peanut Industry united over the last few months to donate more than 100,000 jars of peanut butter to the survivors of Hurricane Harvey’s massive and historic flooding.  The donation effort was coordinated through Peanut Proud, a non-profit organization of the U.S. Peanut Industry, and the Texas Peanut Producers Board (TPPB). The retail value of the donation is estimated at $290,000.  

The shipments will included peanut butter manufactured by Algood Food Company, Kroger Company, Severn Peanut Company, John B. SanFilippo & Son and Golden Boy Foods.  The Texas Peanut Producers Board, Georgia Peanut Commission, Virginia Peanut Growers Association, Virginia-Carolinas Peanut Promotions, National Peanut Board, National Peanut Buying Points Association, 2017 class of the Peanut Leadership Academy, Birdsong Peanuts and Premium Peanut were gracious in their donations to help with disaster relief in Texas.

Peanut butter has seven grams of protein per serving, is shelf stable, requires no refrigeration or special preparation and is enjoyable for all age groups, making it a natural choice for those who suddenly find themselves suffering from food insecurity.

Local food banks will be supporting those in Texas, and will need to replenish their supplies.  If you would like host your own peanut butter drive, visit Peanut Butter for the Hungry at PB4H.org to access the Peanut Butter Drive Success Kit which provides all the tools you need to mount a successful drive.

For more information on how peanut butter helps in natural disasters, visit National Peanut Board here.