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
Recommend:
0

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 The bill also repeals outdated and ineffective dairy programs and offers producers a new voluntary protection program without imposing mandatory milk supply controls.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
Recommend :
0
React to this article
Latest news
Date Title
<1m ago SAUDI BASIC : SABIC biggest consumer of energy in Saudi Arabia
<1m ago ORACLE : Avenue Code Becomes Oracle PartnerNetwork Gold Level Partner
1m ago ALCATEL LUCENT : Industry analyst firm raises Alcatel-Lucent Enterprise networking LAN portfolio rating to “Very Strong”
2m ago Investors Should Stay Updated on Their Energy Stocks' Catalysts
2m ago CANCER GENETICS : OncLive Expands Its Strategic Alliance Partnership Program With the Addition of UNC Lineberger Comprehensive Cancer Center
2m ago Uba Capital Posts N1.5 Billion Profit Before Tax in Six Months
2m ago PFIZER : Livestock Feeds - an Investment Opportunity in Agriculture
2m ago PFEIFFER VACUUM TECHNOLOGY : participates in World Corporate Games
2m ago OPEC ORGANIZATION OF PETROLEUM EXPORTING COU : daily basket price stood at $105.74 a barrel Tuesday, 22 July 2014
2m ago KAZAKHMYS : Proposed Group Restructuring
Latest news
Advertisement
Hot News 
EUROPEAN ISLAMIC INVESTMENT BANK : Euro Islamic Inv Bnk - Proposed appointment of CFO and Executive Director
PENNA CONSULTING : Quarterly Revenue And Profit Ahead Of Expectations
SERABI GOLD : Declaration of commercial production at Palito and second quarter operations update
MOBILE STREAMS : Earnings, Revenue To Be Hit By Weak Argentine Peso
RENISHAW : Strong pound hits UK engineer Renishaw's annual profit
Most Read News
1d ago SAMSUNG ELECTRONICS : Apple revenue lags Street's view despite strong China growth
1d ago WHOLE FOODS MARKET : reg; creates 150 jobs in the Palm Desert community
1d ago MICROSOFT : sees end to Nokia losses, shares rise after hours
1d ago ALBANY : Schumer, Gillibrand, Tonko Announce Nearly $4 Million to Rehabilitate Runway at Albany International Airport
1d ago FIAT : Chrysler recalls older Jeep SUVs for ignition switch issues
Most recommended articles
6d agoDJU.S. Industrial Production-Historical
5m ago TalkTalk attracts 185,000 new customers to its family TV offer
6m agoDJMARKET SNAPSHOT : U.S. Stocks: Futures Track Global Gains; Boeing Ahead
9m agoDJCOMMERCIAL BANK EGYPT : CIB's 2Q Net Profit Jumps 39% As Egypt's Corporate Lending Rebounds
11m agoDJAirbus Tries to Convince Buyers to Switch Away from A350-800 -- Market Talk
Dynamic quotes  
ON
| OFF