Agricultural Economics Department

 

Date of this Version

6-4-2008

Comments

Published in Cornhusker Economics, 6-4-08. Produced by the Cooperative Extension, Institute of Agriculture and Natural Resources, Department of Agricultural Economics, University of Nebraska – Lincoln. http://www.agecon.unl.edu/Cornhuskereconomics.html

Abstract

The new farm bill recently enacted by Congress includes some major changes in the farm income safety net that will affect producer sign-up and risk management decisions over the 2008- 2012 life of the bill. With current commodity prices at levels high above the existing price-based farm income safety net, many producers have assumed the impact of the farm program will be minimal for the life of the new bill. However, the changes in the new farm bill, particularly the inclusion of two new revenue-based programs, demand a much closer look on the part of producers.