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Is it 50%..........or 50% of the 50%???
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rnewhouse57
Posted 5/20/2020 13:52 (#8269576 - in reply to #8269176)
Subject: RE: Is it 50%..........or 50% of the 50%???


https://www.farmers.gov/sites/default/files/documents/CFAP%20Final%20Rule.pdf

For producers of non-specialty crops, an average payment rate per unit (bushel,
pound, or hundredweight) will be determined for each eligible commodity based on the
decline in the weekly average of the futures prices (or weekly average of the cash prices,
if futures prices are unavailable)1 between the average for the week of January 13-17,
2020, and the average for the week of April 6-9, 2020.2
Only the comparison between
those two-week periods is used. If the decline in futures prices is 5 percent or greater
between those time periods, a payment for that commodity is triggered and eligible
producers are paid based on inventory held on January 15, 2020. Eligible inventory for
the purpose of non-specialty crops is the lower of self-certified unpriced inventory that an
eligible producer has vested ownership in as of January 15, 2020, or 50 percent of the
eligible producer’s 2019 production of that commodity. CARES Act funds will be used
to make a payment for a producer by multiplying 50 percent of the producer’s eligible
inventory on January 15, 2020, by a pre-specified payment rate calculated as 50 percent
of the calculated futures (or cash, if futures are unavailable) price decline. CCC funds
will be used to make a payment to the producer by multiplying 50 percent of the eligible
inventory by a pre-specified payment rate calculated as 55 percent of the futures (or cash,
if futures are unavailable) price decline. These two separate payments will be issued as
one payment to the eligible producer.

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