On Wednesday USDA began issuing payments to producers who suffered losses due to natural disasters in 2005, 2006 and until Feb. 28, 2007. About $1 billion in payments under the Crop Disaster Program, Livestock Compensation Program and Livestock Indemnity Program are being processed. Signup is continuing, however producers are only allowed to choose one of the three available years to receive payments.
"Numerous agricultural producers suffered financial hardships in recent years because of floods, wildfires, tornadoes and other weather-related disasters," acting Ag Secretary Chuck Conner said. "These funds will provide assistance to producers affected by these disasters."
The LCP covers feed losses, the LIP compensates producers for livestock losses and the CDP provides for quantity and quality crop losses. At this time only quantity losses are being processed. Early in 2008 after signup, USDA will provide the quality loss portion of the program payments.
Farmers and ranchers can apply to receive benefits through these and other disaster programs by visiting their local Farm Service Agency service center. Find more information about FSA disaster programs online at: http://disaster.fsa.usda.gov.