News : Loans, LDPs available : Sidney Herald, Sidney, Montana

Loans, LDPs available

Published on Friday, March 12, 2010 4:14 PM MST

Bruce Nelson, state executive director for the USDA Farm Service Agency (FSA) in Montana, reminds producers they may now request 2010 crop Marketing Assistance Loans (MAL) or Loan Deficiency Payments (LDP) for 2010 sheared wool and mohair.

Unshorn pelts from lambs slaughtered in 2010 are only eligible for LDPs. The 2010 crop year for wool, mohair and unshorn pelts began on Jan. 1 and ends on Dec. 31.

The 2008 Farm Bill raised the loan rate for graded wool from $1 per pound to $1.15 per pound during crop years 2010 through 2012. Unlike previous years, there will be no regional loan rate differentials for 2010 through 2012 graded and ungraded wool. The national loan rate for ungraded wool through the 2012 crop year is $.40 per pound and the mohair loan rate through 2012 is $4.20 per pound.

Marketing loans are nine month loans that provide interim financing for eligible producers, allowing them to store their products in order to market those products when prices are optimal.

An LDP is the difference between the loan rate at a given location and the announced market price for the applicable commodity. LDPs are announced weekly on the Montana FSA Web site and are available at http://www.fsa.usda.gov/mt under the “I Want To” section and clicking on “View Daily LDP Rates” and “View Wool LDP and Loan Rates.”

Eligible producers are able to request electronic Loan Deficiency Payments (eLDPs) online and in most cases receive approval and payment by direct deposit within 48 hours. LDP benefits remain available through your local FSA Service Center.

Print this story Post A Comment

Comments

The following are comments from the readers. In no way do they represent the view of the Sidney Herald.

WRITE A COMMENT

Comments Policy:

All comments transmitted through, or linked from the site, are the sole responsibility of the person from whom such content originated. www.sidneyherald.com encourages our readers to engage in civil discussions about issues. We encourage a collegial, non-insulting tone. Comments that are submitted are not posted to the site immediately, but are reviewed by Herald staff. The Herald cannot edit or change your submissions.

DO NOT POST:
* Potentially libelous statements or damaging innuendo.
* Obscene, explicit, or racist language.
* Personal attacks, insults or threats.
* The use of another person's real name to disguise your identity.
* Comments unrelated to the story.

NOTE: Comments are limited to 250 Words.

There are some exceptions to the above rules when public figures are involved. We define public figures as individuals who work in the public’s eye and/or are candidates for public office and/or their position is paid with tax dollars.

Thank you for your comments!