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Grand Rapids, MI | Les,
I think you have been misinformed. If you are talking about the SURE program, it does not include any livestock income in the calculation.
Here is a summary (yes this is actually much clearer than the language in the Farm Bill believe it or not) courtesy of the IL Farm Bureau:
1. Supplemental Revenue Assistance (SURE): protects against production and/or quality crop losses on the entire farm (all acres in all counties) resulting from adverse weather.
? To qualify, a producer (a) must purchase crop insurance for insurable crops at a minimum coverage of 50% of yield and 55% of price and purchase Noninsured Crop Assistance Program (NAP) for noninsurable crops, and (b1) must farm in a county declared a disaster county or contiguous county, or (b2) has total farm production that is 50% or less of normal due to adverse weather.
? Payment equals 60% of the difference between the farm’s supplemental revenue assistance program guarantee minus the farm’s total crop revenue
• Supplemental revenue assistance program guarantee for each insurable crop equals: the product obtained by multiplying (A) planted acres, (B) farmer-elected percent of insurance coverage times higher of farm’s actual production history (APH) yield or counter-cyclical payment yield, (C) insurance price elected by farmer, and (D) 115%
• Supplemental revenue assistance program guarantee for each non-insurable crop equals: the product of (A) planted acres, (B) 100% of NAP price, (C) higher of NAP yield guarantee or counter-cyclical program yield, and (D) 120%
• Farm guarantee is capped at 90% of the sum of expected revenue for each crop on the farm
? Expected revenue for an insured crop equals: the product of (A) planted acres, (B) higher of actual production history (APH) or counter-cyclical payment yield, and (C) 100% of insurance price guarantee
? Expected revenue for a non-insured crop equals: product of (A) planted acres, (B) 100% of NAP yield, and (C) 100% of NAP price
• Total crop revenue equals: sum of (A) insurance and NAP indemnities, (B) prevented planting payments, (C) other Federal disaster assistance for same loss, (D) 15% of direct payments, (E) counter-cyclical, ACRE, and marketing loan payments, and (F) value of each crop
? Value of crop equals: product of (A) harvested acres, (B) estimated actual yield, and (C) U.S. average market price adjusted for (a) local or regional quality loss from adverse weather and (b) losses due to excess moisture from disaster-related conditions
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Disaster assistance buy in now open
