According to Texas Agriculture Commissioner Sid Miller, growers can apply for two USDA programs through their regional FSA offices before they expire on June 2, 2023.
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“The first one is the pandemic-related Emergency Relief Program, phase two. It is thus going to expire. If they haven’t submitted an application for that one, they must, Miller said. “The assistance from revenue program is the other one.”
Direct loans are also possible, according to Miller, particularly if farmers have experienced a catastrophe. All of the Panhandle region’s counties, he pointed out, are still under a drought declaration.
“The Inflation Reduction Act is linked to a few additional things. You could be eligible for the first one, which is for troubled borrowers who are having trouble making their loan payments, he explained. “Producers who have experienced discrimination can get help. The USDA has discriminated against some minority farmers, which is a well-known truth. There is help available for it.
Miller claims that aid with conservation is also accessible.
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He stated that a number of variables affect how fast producers get alleviation.
They must wait until the filing period finishes to determine their needs since they will have a specific amount of money, according to Miller. “The amount of money never corresponds to the necessity. They must thus ensure that there is enough for everyone. Therefore, once the closing date has passed, it will normally take two to three weeks.
The agricultural sector is cyclical, according to Cody Bivens, senior vice president and commercial lender at Amarillo National Bank.
Mid-April, Bivens stated that “producers generate equity when input costs are reasonable, Mother Nature offers support, and when commodity prices are fair. “Input costs are increasing right now.”
According to Bivens, some farmers may still require more assistance. Farmers of cattle and dairy products are altering rations to control input costs, while farmers of crops are altering their use of pesticides and fertilizer.
“Financing for small and beginning farmers and ranchers can be obtained through the FSA Guaranteed Loan Program during these difficult times, or established producers, who have experienced similar hardship in the past, have more flexibility to make operational changes and/or obtain equity loans.
Miller pointed out that the majority of programs demand that farmers transport agricultural farmers.
Many farmers practice that. The majority of their bankers support that. It’s a smart move, because as you may know, many of them had to submit insurance claims last year as a result of poor harvests, said Miller.
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According to Bivens, animal risk insurance is offered to both beef and other agricultural producers.
“Pasture range land and forage insurance has been very popular in our area over the past few years. As a result of the absence of precipitation, it offers protection against the dangers of fodder loss, according to Bivens. “Dairy revenue protection is a program that protects dairy farmers from unforeseen declines in quarterly milk sales revenue.”
Miller advised farmers to visit farmers.gov to find out more about available programs and to apply.