Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Virginia Farm Bureau : Critical 2014 farm bill passes House, farmers pleased

01/30/2014 | 03:01pm US/Eastern

WASHINGTON-Farmers across the country are applauding the U.S. House of Representatives' passage of H.R. 2642, the five-year Agricultural Act of 2014.

The farm bill, which the House approved 251-166, now heads to the Senate, which is expected to vote on it next week.

The bill would eliminate direct payments to farmers in favor of enhanced crop insurance, revise commodity supports, and create a new dairy program and make some changes that include a cut of almost $8 billion to the Supplemental Nutrition Assistance Program. It still maintains critical food assistance to families in need. A large portion of farm bill spending is for nutritional assistance programs.

"The American Farm Bureau Federation commends the House for its passage of the new five-year farm bill," said AFBF President Bob Stallman. "We are particularly pleased with provisions to provide risk management to fruit and vegetable farmers and to support livestock farmers during disasters.

"We now turn our attention to the Senate for timely passage of the bill, which will provide farmers and ranchers certainty for the coming year and allow the agriculture department to begin planning for implementation."

Virginia Farm Bureau Federation Commodity Marketing Director Spencer Neale said passage of the farm bill is important to the nation's entire food production system. "Our 2 million farmers, who provide food and fiber to more than 300 million Americans, operate in an inherently risky business environment of unpredictable weather and price volatility, and federal protections under the farm bill are an important part of ensuring a stable food supply year in and year out.

"Farm bills are not only good for farmers, they are good for all Americans."

The Agricultural Act of 2014 repeals direct payments and limits producers to risk management tools that offer protection when they suffer significant losses. The bill also repeals outdated and ineffective dairy programs and offers producers a new voluntary protection program without imposing mandatory milk supply controls.

Additionally, it provides nearly $7 billion in funding for ranchers through livestock disaster programs, conservation and research.

Recent U.S. Department of Agriculture data indicates that cattle herd inventories are nearly the lowest they have been in six decades. Disaster programs will provide relief for producers who were affected by drought and blizzards and help them to begin rebuilding their herds.

The farm bill provides retroactive payments for producers who suffered losses after the previous program expired early in October 2011. A new permanent 10-year baseline is provided for the livestock disaster programs. Those programs are estimated to provide nearly $4 billion in assistance to producers over the next decade.

The bill also continues Animal Health and Disease Research Programs, including the authorization of a new competitive grant program that will enable USDA to better focus resources on animal science priorities such as improving feed efficiency.

Additionally, it authorizes a Veterinary Services Grant program to award competitive grants to develop, implement and sustain veterinary services.

Media: Contact Neale at 804-290-1156 or Tracy Taylor Grondine, AFBF communications at 202-406-3642.

distributed by
React to this article
Latest news
Date Title
<1m agoDJGoldman Sachs Sells Aluminum Business to Swiss Firm -- Update
1m agoDJContinental Resources Cuts 2015 Budget Amid Oil-Price Decline
2m ago IHS : Infonetics: Mobile broadband overtakes SMS as largest generator of mobile data revenue
3m ago G2 RESOURCES : December 22, 2014 GRANITE REIT ANNOUNCES ACQUISITION OF US$68.75 MILLION PORTFOLIO IN THE UNITED STATES
3m ago NEXUS ENERGY : McGrathNicol Announcement
6m ago FIRT TR : First Trust Advisors L.P. : Announces Distributions for Exchange-Traded Funds
7m ago AMERICAN AIRLINES : Brown, inhofe praise signing of american airlines bill into law
7m ago ALSTOM : French Firm to Pay Record Fine in Bribery Case
7m ago SANDRIDGE ENERGY : Announces Mandatory Conversion of $200 Million 6.0% Convertible Perpetual Preferred Stock
7m ago Nicholas Financial, Inc. Announces Intention to Commence Modified Dutch Auction Tender Offer
Latest news
Advertisement
Hot News 
DIXONS CARPHONE : Wearable tech on 1 in 3 Christmas wish lists, experts predicting 17 million to own it within three years
PETARDS : Wins GBP1 Million Equipment Deal With Ministry Of Defence
SOITEC : updates its 2015 and 2016 financial guidance
ChinaNet Online Holdings Signs Strategic Partnership Agreement With MediaFun
OCWEN FINANCIAL : Agrees to Settlement With New York Dept. of Financial Services
Most Read News
1d ago GOODMAN : GMG distribution for the six months ending 31 December 2014
5h ago DAVIDE CAMPARI MILANO : Sale of Limoncetta di Sorrento in Italy and sale of the Federated Pharmaceutical division in Jamaica
5h ago ADHERE CREATIVE : Named 'Platinum Partner' by Renowned Marketing Company HubSpot
1h ago Wall St. up for fourth straight day; S&P ends at record
5h ago BLOOMSBURY PUBLISHING : Acquisition of Osprey Publishing Limited
Most recommended articles
1m agoDJContinental Resources Cuts 2015 Budget Amid Oil-Price Decline
10m ago Alstom says will aim for best practices after record bribery settlement
11m agoDJNew Zealand Goods Trade Deficit Narrows as Imports Fall
12m agoDJVanda, Novartis Settle Licensing Dispute Over Schizophrenia Drug
19m agoDJTuna Brands Could Merge After Thai Union Deal
Dynamic quotes  
ON
| OFF