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 The bill also repeals outdated and ineffective dairy programs and offers producers a new voluntary protection program without imposing mandatory milk supply controls.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 ROCHE BEARER SHARE : FDA Approves Roche's HPV Test for First-Line Primary Screening for Cervical Cancer
<1m ago SANOFI : Reaches New Milestone in Fight Against Malaria: 300 million ASAQ Treatments Delivered in Africa
3m ago SANOFI : Sanofi Reaches New Milestone in Fight Against Malaria: 300 million ASAQ Treatments Delivered in Africa
3m agoDJObama Heads to South Korea With North in Mind
4m ago SKANDINAVISKA ENSKILDA BANKEN AB : SEB: First quarter 2014 - Operating profit SEK 4.9bn (3.7)
7m ago TELE2 : Interim Report First Quarter 2014
7m ago SOYO : Governor Assesses Nzeto/Soyo Highway Construction Works
7m ago HSBC : *traders: morgan stanley cuts hsbc to 'underweight' ('overweight')
7m ago TIETO : Interim Report 1/2014 – Continued profitability improvement – encouraging growth in IT services
7m ago PR NEWSWIRE : - Start of Day
Latest news
Advertisement
Hot News 
Successful share buyback for capital reduction
SUMMIT ASCENT : BofAML lifts Summit Ascent to HK$18
Exclusive - Apple, Google agree to pay over $300 million to settle conspiracy lawsuit
UNDER ARMOUR : Navient, Under Armour Set to Join the S&P 500; SLM, PolyOne to Join S&P MidCap 400; Aceto to Join S&P SmallCap 600
UNITED CONTINENTAL : On the web
Most Read News
1d ago AMAZON : revenue increases even as spending rises
1d ago Visa says revenue growth to slow, Russia sanctions hurting volumes
1d ago BANK OF AMERICA : U.S. Justice Department seeks over $13 billion from BofA: Bloomberg
1d agoDJUNITED PARCEL SERVICE : UPS to Take Pre-Tax Charge on New Labor Contract -- 3rd Update
1d ago Exclusive - Apple, Google agree to pay over $300 million to settle conspiracy lawsuit
Most recommended articles
1d ago Asian shares, dollar struggle on Ukraine anxiety
1d ago Healthcare deal hopes push FTSE to seven-week closing high
3d ago Barclays joins retreat from commodities as new rules bite
3m agoDJObama Heads to South Korea With North in Mind
1h ago New report calls U.S. a 'rising star' of global manufacturing
Dynamic quotes  
ON
| OFF