What could an extension of the current farm bill mean for producers and their risk management programs?
Brad Lubben, an extension policy specialist with the University of Nebraska-Lincoln, says commodity programs in Title I, like ARC and PLC, must be extended for the 2024 crop. “2024 could be the first two things that are almost identical. Producers will have to think about revenue vs price or ARC vs. PLC.”
He says without an extension, dairy producers would face the dairy cliff, which refers to permanent legislation that was authorized in 1949.
