Marketing assistance loans and loan deficiency payments continued
for the 2013 crop year
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[February 08, 2013]
SPRINGFIELD -- The marketing
assistance loan and loan deficiency payment provisions authorized in
the Food, Conservation and Energy Act of 2008 (farm bill) have been
extended for the 2013 crop year with the passage of the American
Taxpayer Relief Act of 2012. The U.S. Department of Agriculture's
Farm Service Agency state executive director, Scherrie Giamanco,
made the announcement Wednesday.
The marketing assistance loans, known as MALs, and loan
deficiency payments, known as LDPs, provide financing and
marketing assistance for wheat, rice, feed grains, soybeans and
other oilseeds, peanuts, pulse crops, cotton, honey and wool.
Assistance is available to eligible producers beginning with
harvest or shearing season and extending through the program
year. The 2013 mohair crop is not eligible for MALs or LDPs
because mohair provisions were suspended by the Consolidated and
Further Continuing Appropriations Act of 2012 and the Continuing
Appropriations Resolution in 2013.
MALs provide producers
interim financing at or after harvest to help them meet
cash-flow needs without having to sell their commodities when
market prices are typically at harvest-time lows. A producer who
is eligible to obtain a loan but agrees to forgo the loan may
obtain an LDP if such payments are available.
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For more information about marketing assistance loan and loan
deficiency payments, visit your local county FSA office or
[Text from file received from
USDA Farm Service Agency]