Checks from USDA will soon be in the mail for eligible producers who enrolled upland cotton base acres in the Direct and Counter-cyclical program. Agriculture Secretary Tom Vilsack says the Commodity Credit Corporation will send out $490 million in payments. The projected partial CCP rate for producers with enrolled upland cotton base acres is 5.03 cents per pound or 40% of the projected total rate of 12.58 cents per pound.
No partial counter-cyclical payments will be issued for 2008 crop wheat, barley, oats, long grain rice, medium grain rice, peanuts, corn, grain sorghum and soybeans, because market prices are above levels that would trigger CCP payments. Also, no final 2007 CCP payments will be made to producers with rice base acres enrolled in the DCP, because market prices for rice exceed the target price of $10.50 per hundredweight.
For more information on the direct and counter-cyclical payment programs, visit your local USDA Service Center or the Farm Service Agency Web site at http://www.fsa.usda.gov.